Polymarket-affiliated entity PM Derivatives approved by NFA to register as an FCM
Polymarket Gets NFA Approval for Fully Collateralised US Brokerage
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The National Futures Association (NFA) has approved Polymarket-affiliated entity PM Derivatives, LLC to operate as a futures commission merchant (FCM), allowing it to accept and hold customer orders and funds. In the initial phase, the brokerage business will require customers to fully collateralize their positions at the time of each trade; offering margin services in the future will require additional regulatory approval, while existing brokerage arrangements will remain in place.
The material explains the division of responsibilities among the exchange, clearing organization, and broker in Polymarket’s U.S. derivatives business, as well as the distinction between the approvals required for fully collateralized operations and margin services.
Source:Finance Magnates · financemagnates.com