Regulators leave door open for FX exemption from margin rules


Lobbyists in the foreign exchange industry have been given until September to fight for a crucial carve-out for FX derivatives from global margining requirements for over-the-counter derivatives not cleared through central counterparties (CCPs), following the publication of a major consultative paper on the topic on July 6.

The treatment of non-centrally cleared derivatives has emerged in recent months as a flashpoint for potential divergence between US and European regulators, as officials at

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