The low pitched drone of a stuck vinyl record appears to resemble the soundbites that have emanated from the US Commodity Futures Trading Commission (CFTC) for an astonishing 6 years on the issue of its intention to ‘reform the OTC derivatives market.’ Whilst the authorities in the United States are world renowned for their tenacity and Senator-level understanding of the four decade old electronic trading industry that is equally sophisticated in North America, 6 years in the lifetime of retail brokerage business is an epoch. Today, the CFTC’s regulatory juggernaut has begun publicly discussing what it continues to ... (full story)