Dealers drag their feet on NDF clearing, say prime brokers

Trade mismatches and other wrinkles hinder clearing between executing broker and prime broker


Foreign exchange prime brokers are struggling to persuade dealers to clear non-deliverable forward (NDF) trades, as technological and operational hitches impede the switch to central clearing.

Prime brokerage units at banks such as Citi and Bank of America say that while some of their dealer counterparties have agreed to clear trades, others are holding out. The delay means added costs for both parties in the form of margin.

The trades in question are the leg of NDFs between executing broker

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here