New rules are leading major brokerages in the derivatives industry to consider launching futures exchanges of their own. GFI Group has submitted a request to the Commodity Futures Trading Commission to start a proprietary U.S. futures exchange. "The difference between the regulatory treatment of futures and swaps is unclear, and we want to be prepared to serve our clients' needs across all markets," a GFI spokeswoman said in a statement. BGC Partners, ICAP and other rivals are considering similar moves.

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