Corporates await final Dodd-Frank details as deadline approaches

On the surface, it might seem that corporate users of foreign exchange derivatives are not going to be significantly affected by the Dodd-Frank Act. At the asset class level, the first draft of the regulations, published in July 2010, provided an exemption from the clearing rules for vanilla FX forwards and swaps. Moreover, end-users who can prove to regulatory agencies that they engage in derivatives trading strictly to hedge or mitigate commercial risks, and can demonstrate board approval to