FX clearing driven by capital and collateral costs rather than mandate

clearing and settlement

Market interest in clearing foreign exchange derivatives is increasingly driven by forthcoming requirements to hold additional capital and post initial margin against non-centrally cleared derivatives, rather than by the prospect of mandatory clearing, according to speakers at a webinar hosted by FX Week.

Speaking to an online audience on June 27, Gavin Wells, chief executive of ForexClear at LCH.Clearnet, estimated that due to delays in regulation, clearing of non-deliverable forwards (NDFs) is

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