Berkovitz calls for more clearing diversity, laments FCM fall
US Commodity Futures Trading Commission commissioner Dan Berkovitz has called for an increase in the capacity and diversity of clearing services, citing the danger of a large clearing firm failing.
In a speech before the National Cattlemen’s Beef Association in Colorado, CFTC commissioner Berkovitz highlighted figures showing a sharp decline in the number of registered futures commissions merchants (FCMs) that actively clear futures and options for customers — there are 55 firms today compared to 90 in 2007....
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