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Comment: Proposed US reforms cloud horizon for clearing

Higher costs could damage business if proposals from the Obama administration come into force

Every two years the Futures Industry Association inducts a small group of “merited” individuals to the Futures Hall of Fame. Among the luminaries honoured this year at the FIA’s annual conference in Boca Raton was David Hardy, the former chief executive of LCH.Clearnet.

Hardy has long since departed the industry and, busy forging a new career in golf, was not in Boca to collect his award. But he was probably tickled to receive it.

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