FX Committee, BBA Issue FX Options Master Spot, Forward FX Master Nears Completion
REGULATIONS
In an effort to establish standard market terms, promote better industry practice, eliminate the cost of establishing bilateral netting agreements and define credit risk, the U.S. Foreign Exchange Committee and the British Bankers' Association (BBA) have issued a master agreement for foreign currency options. The International Currency Options Market Master Agreement (ICOM) is the first cooperative effort between the two groups and is expected to be widely adopted by banks on both sides of the
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