Study casts doubt on mandatory futures insurance
A mandatory insurance fund designed to protect customers from a futures commission merchant (FCM) bankruptcy would be very costly to implement, but a voluntary solution in which FCMs banded together to form a captive insurer might be feasible, according to a recent industry-sponsored study.
The study was commissioned after two high-profile FCM failures, the 2011 collapse of New York-based MF Global and the 2012 failure of Iowa-based Peregrine Financial Group. The implosions sparked calls for a
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