Currency floor breach raises questions over SNB policy

The Swiss National Bank should consider enlisting the help of top-tier banks to keep EUR/CHF above 1.20, forex traders suggest

Swiss flags

A controversial breach of the Swiss National Bank's (SNB) minimum exchange rate for euro/Swiss franc on April 5 - and the ongoing testing of the minimum rate this week - has raised questions among traders over whether the SNB should adjust its procedure for enforcing the minimum rate.

According to a memo sent to clients by interdealer broker Icap on April 5, the EBS platform printed a market low of SFr1.19900 to the euro at 09:41 GMT that day, despite the SNB's policy - implemented in September

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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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