NDF clearing set for more delays

Countdown to NDF clearing might not begin until September

Scott O'Malia
Scott O'Malia

The Commodity Futures Trading Commission's (CFTC) proposals for clearing non-deliverable forward (NDF) contracts will likely be pushed back to September as its staff have yet to send a draft, industry participants have told FX Week.

The US regulator, which has seen a new chairman and commissioners join the office recently, has denied claims that the new appointments may have scuppered plans for the proposal to be ready by the second quarter, although a comment from a CFTC spokesperson suggests

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