Friday’s proposal, which details how regulated firms should only place clients’ assets in an expanded list of the most liquid investments, does not consider “the context of a non-intermediated clearing model where the DCO offers direct access to clients to its clearing services, without the FCM as an intermediary,” said CFTC Commissioner Kristin Johnson.
Former FTX unit LedgerX in gray area beyond US CFTC proposal on client funds: Commissioner
