CME's Duffy warns about dire consequences of CFTC collateral rule

07/17/2013 | Bloomberg

CME Group Executive Chairman Terrence Duffy told the Senate agriculture committee that a Commodity Futures Trading Commission proposal aimed at protecting investors' money would "fundamentally change" the industry. The rule would require futures brokerages to set aside proprietary funds to cover collateral deficits of clients throughout the day. Market participants have warned that the proposal could drive clients away from the market.

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