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Asian firms betting on exemptions from UST clearing mandate

Hoping for relief on extraterritoriality, 51% of Apac firms have yet to start compliance programmes

Securities and Exchange Commission
Photo: Andriy Blokhin/Alamy Stock Photo

Over half of Asian firms active in the US Treasury market are lagging behind in preparing for the US Securities and Exchange Commission’s clearing mandate and appear to be clinging to hope that the regulator will rein in the extraterritorial reach of the rule before it goes live.

A recent survey from BNY Mellon found that while 80% of respondents are confident they will be ready for the repo

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