Bloomberg: Fidelity Investments, Stanford professors, etc. have written to the US CFTC to support FTX's derivatives trading plan

According to Bloomberg, FTX had applied for a controversial plan to win regulatory approval to allow its derivatives exchange to trade directly with investors using algorithmically generated margins, rather than traditional financial intermediaries such as brokerages. people). The plan is for FTX to calculate margin levels every 10 seconds throughout the day instead of the traditional daily calculation and only once on regular trading days. Undercollateralized positions will be automatically liquidated, aiming to revolutionize derivatives trading. And from Fidelity Investments, Fortress Investment Group, Susquehanna International Group, and Virtu Financial, to faculty members at Georgetown University, University of Chicago, College of William & Mary, and Stanford University, to law firm Jones Day and the Heritage Foundation think tank Hundreds of open letters supporting the FTX program were sent to the US Commodity Futures Trading Commission (CFTC) this year.