Onboarding Friction for Energy Futures Brokers - Anyone else seeing this?
Curious if others active in the energy futures space have noticed an uptick in the administrative hurdles recently when trying to onboard with new brokers or even just establishing new trading accounts within existing relationships. I've been looking at diversifying some of our exposure across a couple of different clearers for $WTI and Brent, primarily focusing on better pricing for larger block trades and improved liquidity access during certain hours.
However, the KYB process seems to have become significantly more drawn out. Documentation requests are often redundant, and the review cycles feel like they're stretching from days into weeks. It's particularly frustrating when you're trying to capitalize on market opportunities and the operational side acts as a bottleneck. Is this just a localized experience, or are regulatory bodies tightening the screws across the board, making the infrastructure less agile for active participants? I'm particularly interested if anyone has found specific providers that manage to streamline this without compromising on the robustness of their offerings.