House OTC derivatives vote leaves FX exemption question unanswered


The reconciled bill to regulate over-the-counter derivatives markets passed in the US House of Representatives last week has provided little closure on many of the key questions OTC market participants are asking - not least of which is how foreign exchange forwards and swaps will ultimately be treated in the US.

The Wall Street Reform and Consumer Protection Act 2009 passed the House on December 11 in a vote split predictably along partisan lines. All 175 Republican members present voted in

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