Brakes remain on FX options clearing, despite regulatory easing
Clearing of foreign exchange options remains a long way from becoming a reality, despite the apparent lifting of one major obstacle in a revised set of principles for financial market infrastructures (FMIs) published by a global body of regulators last week.
The original document, issued by the Committee on Payment and Settlement Systems and the International Organization of Securities Commissions (CPSS-Iosco) in March 2011, appeared to require central counterparties (CCPs) to guarantee full and
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