Chase Touts CFDs As FX Settlement Risk Solution


CHASE Manhattan Bank has proposed a new foreign exchange derivative, called a contract for difference (CFD), in response to mounting pressure from regulatory authorities to reduce forex settlement risks.

Some $1 trillion of settlement payments flow through the forex markets each day. Chase officials claim CFDs could eliminate up to 95 per cent of this volume.

However, other industry sources caution that banks are too busy sorting out other operational issues to start trading such contracts in the

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