CCPs face $161 billion liquidity shortfall to clear FX options, GFXD finds

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Central counterparties (CCPs) seeking to clear physically delivered foreign exchange options must find a mechanism to manage a same-day liquidity shortfall of as much as $161 billion, according to the results of a comprehensive industry study co-ordinated by the global forex division (GFXD) of the Global Financial Markets Association.

The publication of the data marks a major milestone in the regulatory drive towards central clearing, given the unique challenges associated with clearing foreign

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