Bloomberg: Fidelity Investments and others have written to the U.S. CFTC in support of FTX's derivatives trading plan

ChainCatcher news, according to Bloomberg, FTX had applied to U.S. regulators for a controversial plan that would allow its derivatives exchange to trade directly with investors using algorithm-generated margin. FTX calculates margin levels every 10 seconds around the clock, and under-collateralized positions will be automatically liquidated, aiming to fundamentally change derivatives trading.

It is reported that Fidelity Investments, some faculty members from Stanford University, as well as several law firms and think tanks, have sent hundreds of public letters supporting the plan to the Commodity Futures Trading Commission (CFTC). (Bloomberg)