European Parliament has neglected FX exemption question, says UK MEP

Kay Swinburne criticises colleagues in the European Parliament for failing to tackle the question of whether forex contracts need to be subjected to new clearing and reporting requirements


The European Parliament has been "remarkably silent" on the crucial question of whether foreign exchange contracts should fall within the scope of new rules for central clearing and reporting of over-the-counter derivatives, according to Kay Swinburne, a British member of the European Parliament (MEP) in Brussels and member of the parliament's Economic and Monetary Affairs Committee.

Speaking exclusively to FX Week, Swinburne revealed there has barely been any discussion in the European

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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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