BlackRock, CME Group and the Intercontinental Exchange have asked the Commodity Futures Trading Commission (CFTC) to reduce a proposed threshold for contacts on centralized futures markets, Bloomberg reports. The CFTC had suggested that 85% transactions to be done through a market’s central limit order book system, while the rest be allowed to be done off-exchange in block trades. U.S. asset manager, Blackrock, and futures exchange operator, CME, have proposed CFTC lower the threshold to 75%. CFTC’s new proposal is meant to protect price discovery for futures by limiting non-public block trading.
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