Heavyweights tackle rising unnamed counterparty risk
NEW YORK
-- Top foreign exchange banks are joining forces with central banks and regulators to eliminate unnamed counterparty risk. Fears over money laundering in the post-September 11 environment and heightened credit risk is driving Banks’ interest in solving the problem, which occurs when an investment adviser engages a dealer to trade on behalf of a client whose identity is withheld."If I am dealing with an investment adviser and the client they are acting for is not known to me, that has
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