TechFlow news, the U.S. Commodity Futures Trading Commission (CFTC) will hold a roundtable on May 25 to discuss FTX's proposal on disintermediation and clarify the role of futures commission merchants regarding cryptocurrency trading platforms.
Previously, FTX proposed using a derivatives clearing model—a new approach to handling clearing—to directly clear its derivatives customers' trades, simplifying transactions by reducing the number of times assets change hands. Notably, the CFTC's announcement does not mention FTX by name, referring to it instead as "certain registered entities that have discussed with CFTC staff offering retail customers non-intermediated or direct trading and cleared margin products."
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