Australian regulator may review nexus trade approach
Asic commissioner hints at reviewing treatment of nexus trades
The Australian securities regulator, Asic, has said that it may review how it treats nexus trades – derivative transactions that are booked or traded abroad – under new central clearing rules that are being drawn up.
This follows a push-back from industry, which feared that the imposition of non-standard rules in Australia could create widespread uncertainty and require the development of additional systems for clearing Australian dollar swaps.
Last year, Asic decided to depart from the approach
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