CFTC investigates breaches of 60-second clearing rule

Commissioner O'Malia says agency has requested data from FCMs – Risk reported last month that some firms had broken rule 1.74

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The Commodity Futures Trading Commission (CFTC) is investigating possible breaches of rule 1.74, which requires clearing firms to accept or reject client trades within 60 seconds, according to Scott O'Malia, one of the agency's five commissioners, who was speaking at a meeting of the CFTC's technology advisory committee yesterday.

Risk reported last month that some futures commission merchants (FCMs) have broken the rule since the start of mandatory clearing in the US on March 11. The CFTC has

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