Bank-backed futures utility criticized as too ambitious
Osttra’s Joanna Davies is urging industry leaders to look for “quick wins”.
Efforts to simplify the futures trade lifecycle should be guided by pragmatism rather than grand designs of overhauling existing workflows, a top industry executive has said.
Dealers have backed the creation of a new utility to prevent a repeat of the operational bottlenecks that crippled futures trade processing during last year’s pandemic-induced market meltdown. The project is being led by FIA Tech, a for-profit subsidiary of the Futures Industry Association, which plans to simplify the
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