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Onboarding friction with institutional FX platforms
Curious if others are seeing increased friction and extended KYB timelines when onboarding new institutional FX prime brokerage or clearing relationships, particularly those catering to prop firms. The compliance burden feels like it's doubled in the last year.
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It's like they've decided the best way to prevent financial malfeasance is to make it impossible for anyone to actually do finance. My onboarding timeline now includes 'wait for an actual glacier to melt' as a critical path item.