Forex dealers coalition
The Foreign Exchange Dealers Coalition FXDC was an alliance of the largest U. The Coalition aimed to provide input to the proposals for major regulation changes at the time, including the required registration for Retail Foreign Exchange Dealers RFEDs with the National Futures Association.
Foreign Exchange Dealers Coalition (FXDC)
The FXDC defined a forex dealer as providing online trading services to allow individuals to speculate on rapidly changing foreign exchange rates. Forex Dealer Members FDMs are regulated in the United States by the Commodity Futures Trading Commission CFTC and National Futures Association NFA , as well as by national and local regulatory bodies where they conduct business.
Foreign Exchange Dealers Coalition | Futures Magazine
The forex industry in the United States was unregulated until December when the Commodity Futures Modernization Act of was introduced. In addition, many of these long-established regulatory bodies extend specific regulations solely to retail forex dealers , [5] such as higher capital requirements, disclosure statements and the requirement that all dealers disclose to customers that their funds may not be safe in the event of bankruptcy.
The FXDC partnership was formed in the fall of by a group of the nine largest forex firms in the US at that time, and seems to have been dissolved sometime after From Wikipedia, the free encyclopedia. Retrieved 17 December Retrieved March 31, Will DC rock the trading universe?
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