EC: Prepare for FX clearing in US and EU

patrick-pearson

Senior figures from the European Commission (EC) and European Parliament ruled out an outright clearing exemption for foreign exchange at an Association for Financial Markets in Europe conference in Brussels held on January 12.

Speaking at the conference held to discuss the future of the FX market and impending regulation, Patrick Pearson, head of the financial markets infrastructure unit at the EC, said neither the US nor the EU wants an outright exemption. "We've had long discussions about

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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