KRX adds 16 foreign branches for mandated won IRS clearing

KRX set to receive no-action relief from the CFTC later today

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Korea Exchange (KRX) has revealed a list of 16 foreign bank branches that have been admitted for direct clearing of won interest rate swaps (IRS) in time for a June 30 mandate from the Korean regulator. Later today the Commodity Futures Trading Commission is expected to confirm no-action relief for KRX until the end of the year.

In a few days' time Korea will become the latest clearing house in Asia to fulfil its Group of 20 (G-20) commitment to clear standardised derivatives. Korea's mandate co

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