Korea to start mandatory clearing in October 2013

Airport delays

Korean legislators failed to pass the over-the-counter clearing bill on Thursday, dashing hopes that clearing in Korea could be kick-started, with mandatory clearing now slated to commence in October next year.

The Korean OTC clearing bill passed the first legislative committee stage last week, but was resisted at the second stage by opposition party members distracted by the upcoming presidential election and requesting further time to discuss the provisions, says Jae-Joon Lim, director of busi

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