Finex Expects Large Lot Approval; Plans Cross-Margining With PHLX
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Finex, the financial futures and options division of the New York Cotton Exchange, is expecting regulatory approval for its Large Lot System this week. The division is also awaiting final word on its cross-margining agreement with the Philadelphia Stock Exchange.
The Finex Large Lot System (Fills) is designed to provide the ease and efficiency of interbank trading for block orders of Finex futures contracts, according to Finex officials. A block order is an order to buy or sell 100 or more Finex
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