CFTC rule-making narrows field in repository race

The number of potential providers of a trade repository for the foreign exchange market decreased between the Association for Financial Markets in Europe's (Afme) informal request for information last year and its final request for proposal (RFP) that closed on May 6, market participants have told FX Week.

Central settlement provider CLS Bank is one institution known to have taken its hat out of the ring, having stated in a public letter to the US Treasury on November 23 that it was committed to