China onshore OTC clearing postponed until 2014
OTC clearing onshore in China will be delayed until at least the end of 2013 or early 2014 according to an official at Shanghai Clearing House
Shanghai Clearing House (SHCH) is facing delays launching over-the-counter derivatives clearing as it first focuses on moving China's foreign exchange settlement platform to the clearing venue.
Clearing houses have been gearing up to comply with the G-20's commitment to clear standardised over-the-counter derivatives through a central counterparty (CCP) by January this year, although so far only Japan and Singapore have started operations.
SHCH, one of seven CCPs set to open for business across
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