Foreign Exchange Dealers Coalition (FXDC)
Contents
Unraveling the Legacy of the Foreign Exchange Dealers Coalition (FXDC)
The Foreign Exchange Dealers Coalition (FXDC) once stood as a pivotal alliance among the largest U.S. foreign exchange dealers, shaping the landscape of forex regulation and advocacy. Let's delve into the history, goals, and impact of the FXDC during its brief existence from 2007 to 2010.
Exploring the Genesis of the FXDC
Formed in 2007, the FXDC comprised nine major foreign exchange dealers united by a common goal: to advocate for their interests and influence regulatory developments in the forex industry. Learn about the motivations behind the creation of this coalition and its aspirations for industry recognition and regulatory alignment.
The FXDC's Role in Regulatory Advocacy
Discover how the FXDC became a formidable voice in addressing regulatory changes proposed by the Commodity Futures Trading Commission (CFTC), particularly in response to landmark legislations such as the CFTC Reauthorization Act of 2008 and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Delve into the FXDC's efforts to balance investor protection with business continuity in the evolving forex landscape.
Navigating Regulatory Waters: FXDC's Response to Mandatory Registration
Gain insights into the FXDC's stance on mandatory registration requirements imposed by the CFTC, including the National Futures Association (NFA) registration for various entities such as retail foreign exchange dealers (RFEDs) and commodity pool operators (CPOs). Explore the tensions between regulatory compliance and industry concerns over potential stifling effects on forex market dynamics.