Forex clearing drives Nasdaq OMX reorganisation

Exchange plans for FX clearing environment

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Nasdaq OMX, the New York-based derivatives exchange, has created a new global market services unit, which it says will help improve its ability to compete on a global level in the foreign exchange, fixed income and commodities asset classes.

Hans-Ole Jochumsen, head of the new unit, told FX Week the reorganisation was mostly driven by clearing and capital requirements affecting an increasing number of foreign exchange products.

"For a relatively long time we saw compliance issues mainly in fixed

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