CFTC hears NDF workload fears
12 months until clearing may come too soon for the industry
Industry responses to the US Commodity Futures Trading Commission's (CFTC) consultation on clearing non-deliverable forwards (NDFs) within a 12-month timeframe suggest concerns are rising about a potentially disastrous liquidity split, which could occur if market participants lack sufficient time to prepare for the switch.
The feedback, which has yet to be made public, was tasked to the CFTC's Global Markets Advisory Committee (GMAC) following a meeting in Washington in October. Respondents
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