Esma inclined to follow US FX exemption, says FSA’s Justham

alexander-justham

The US Treasury's likely exemption for foreign exchange swaps and forwards from mandatory clearing and exchange trading will heavily influence the decision-making of the European Securities and Markets Authority (Esma) when it comes to decide which classes of derivatives should be subject to similar rules in Europe, according to a senior UK regulator.

"Product exemption is an area where consistency is primary. The US Treasury has recently made a decision to exempt FX forwards and swaps from

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