Against the tide: why Kiwi banks want to be clearing members
Rising fees and lack of leverage ratio cause some New Zealand banks to consider direct clearing
The World Factbook from the CIA places New Zealand fifty-third on the list of the globe's largest economies, well outside membership of the Group of 20 nations, which published a commitment to move over-the-counter derivatives into central clearing at the end of its 2009 Pittsburgh Summit. But while G20 members such as Saudi Arabia and Russia are effectively absent from global derivatives markets
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