CFTC heeds buy-side demands for increased margin protection

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Regulators in the US face a potentially tricky dilemma. A large chunk of the over-the-counter derivatives market will soon have to be cleared through central counterparties (CCPs) – the passing of the Dodd-Frank Wall Street Reform and Consumer Protection Act in July has made that a certainty. The predicament centres on how exactly client clearing will work in the US. Some influential buy-side firms insist the current futures clearing merchant (FCM) model has to change to ensure the initial margi

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