Global FX division moves forward on options clearing
The global foreign exchange division (GFXD) of the Global Financial Markets Association has almost completed the initial data-collection stage of a major project to pave the way to central clearing of FX options ahead of forthcoming G-20-driven regulatory requirements.
Following a surprise requirement set by regulators last year that central counterparties (CCPs) must offer guaranteed settlement for physically settled products, FX market participants recognised that CCPs don't have the
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