Market ready if CFTC mandates Aussie IRS clearing

Rumours in Australian market that US will expand its clearing mandate

australian-dollars

A potential move by the US Commodity Futures Trading Commission (CFTC) to extend its clearing mandate to include Australian dollar interest rate swaps (IRS) would have little practical impact on the market given the amount of these instruments which are already centrally cleared, according to Marcus Robinson, Australia country head for LCH.Clearnet. Australia recently announced an extension of its domestic clearing mandate beyond the original proposals for just G-4 currencies – dollar,