CFTC rules on mid-market disclosure put banks under pressure

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Banks are struggling to meet the technology requirements needed to supply a pre-trade mid-market price for certain foreign exchange trades from May 1, in line with business conduct rules drafted by the US Commodity Futures Trading Commission (CFTC), despite having already won a four-month reprieve from the original January 1 deadline and an exemption for some currencies.

The rule, which will require swap dealers and major swap participants in the US to supply a streaming mid-market price to

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