Finex And Philadelphia Agree To Seek First FX Cross-Margining Agreement
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Finex and the Philadelphia Stock Exchange (PHLX) are working to establish the first cross-margining agreement for foreign exchange products, officials at those exchanges confirm. Though the logistics are still under discussion, Finex managing director Richard Jaycobs says the arrangement could be in place by the beginning of the year.
"We're going to do whatever we can do to get this thing done as quickly as we can," says Jaycobs. Joseph Rizzello, senior vice president at the Philadelphia
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