FTX proposal could prompt wider clearing changes
FCMs say current clearing structure could end up adopting parts of crypto exchange’s novel approach
Bank clearing experts believe FTX’s direct clearing plans may open the door to an evolution of the current post-trade structure that takes in elements of the crypto exchange’s approach.
Many institutional firms have expressed concerns over a proposal put forward by FTX, which is seeking to offer clients direct access to clearing by bypassing futures commission merchants (FCMs). Though the
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