CFTC approves FX anti-fraud rule

"Off-exchange retail foreign currency trading is an area that historically has involved substantial fraudulent activity,” said James Newsome, chairman of the CFTC.

The rule creates a new forex dealer membership category and explicitly prohibits fraudulent or manipulative behaviour by these members. Any dealer that derives 35% or more of its revenue as a counterparty to off-exchange foreign currency futures or options transactions with retail customers is included in the NFA’s new category.

The

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Smarter trading in a fragmented world

FX Week recently hosted a webinar in partnership with Refinitiv to ask foreign exchange industry leaders to discuss geopolitical challenges, market changes and developments, and evolving technologies, and how they have shaped forex markets in Asia

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