FX clearing a priority for 2014, vows CLS chief

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Facilitating central counterparty (CCP) clearing of over-the-counter foreign exchange options in line with regulatory requirements is a top priority for 2014, according to FX settlement risk mitigation utility CLS, which has vowed to work closely with banks and CCPs to assist with the settlement of cleared FX products.

The commitment comes weeks after the global FX division (GFXD) of the Global Financial Markets Association published the results of an extensive industry survey, revealing that

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