Industry hails US Treasury exemption for FX swaps and forwards
Banks, market infrastructures and industry associations have widely welcomed a proposed determination by the US Department of the Treasury to exempt foreign exchange swaps and forwards from the clearing and exchange trading requirements of the US Dodd-Frank Act.
"The proposed determination is a major step in ensuring the continued availability of cost-effective hedging for corporates and investors, and the ongoing functioning of a well-performing market," said James Kemp, managing director of
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