P.M. BRIEFING : Dual Trading Limits Considered
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WASHINGTON — The Commodity Futures Trading Commission voted today to consider a proposed rule that would place limited restrictions on the controversial practice of dual trading, where futures brokers trade for themselves and their customers.
The five-member CFTC, which oversees the futures industry, voted unanimously to submit for public comment a proposed rule that would phase in some limits on dual trading over a 12-month period.
The rules change would be extended or pulled back based on a continuing review of the initial limitations, according to the proposal that will be reexamined after a 90-day public comment period.
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