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NFA Proposes Higher Transparency Rules for Retail Execution
The National Futures Association (NFA) has submitted a proposed rule to the US Commodity Futures Trading Commission (CFTC) that will raise transparency levels for retail FX customers when executing in markets. The proposed rule change, which has the support of the five Forex Dealer Members (FDMs) under the NFA jurisdiction, will provide retail FX customers with a framework for obtaining execution information to review the quality of the execution the customer received compared to that of other customers at the FDM. Specifically, the rule states that an FDM will be required, upon the request of a customer regarding a specific executed FX transaction, to provide the customer with specified transaction data for the 15 transactions in the same currency pair that occurred immediately before and after the customer's transaction.

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