Options clearing pushed to 2014 as solution search begins

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Foreign exchange prime brokers and operations heads are preparing to begin talks over possible clearing mechanisms for foreign exchange options, following an extensive data collection and analysis exercise, with the expectation that options clearing will not now begin until next year at the earliest. Following requirements set out by the Committee on Payment and Settlement Systems and the International Organization of Securities Commissions (CPSS-Iosco) in 2011 that central counterparties (CC