Timothy Massad, chairman of the Commodity Futures Trading Commission, has called for changes to the US leverage ratio rules to soften the impact on futures commission merchants (FCMs) that clear derivatives trades on behalf of customers.
"I am very concerned that this could have a significant negative effect on clearing. We have mandated clearing as a way to reduce and monitor and mitigate risk. I think that was a good decision," said Massad, responding to a question from congressman Frank Lucas
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