Dealers working to keep Asian entities outside Dodd-Frank

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US and non-US banks in Asia are working to minimise the potential impact of the Dodd-Frank Act by re-organising their operations to minimise trading with US counterparties in the region.

The shift is in response to proposed guidance on the cross-border application of Dodd-Frank, published by the Commodity Futures Trading Commission (CFTC) in June. Under those guidelines, foreign entities must register as non-US swap dealers if they exceed a minimum notional amount of swap dealing activity - init

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