International Associations Issue Best Practice Guidelines For Y2K


NEW YORK--Several professional organizations from around the globe last month issued a joint set of recommendations aimed at minimizing confusion associated with Y2K settlement failure in the foreign exchange markets.

The New York Foreign Exchange Committee (FXC), the Emerging Markets Traders Association (EMTA), the International Swaps and Derivatives Association (ISDA) and several other professional bodies from Canada, Singapore, Japan, the UK and Australia were behind the initiative. The group

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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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