The forex clearing debate continues


What is the likelihood of US regulators following through with the proposed inclusion of FX swaps and forwards in over-the-counter derivatives reforms? Here’s what the lawyers say…

House Financial Services Committee chairman Barney Frank has said he plans to include clearing for FX swaps and forwards, exempt in the original drafts of the US legislation for over-the-counter derivatives, in the final derivatives bill. Similar calls were made on October by House Agriculture Committee chairman

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