FX market a challenge for CCPs, says New York Fed official
Central counterparties (CCPs) will find it difficult to develop clearing solutions for the foreign exchange market that address both counterparty risk and settlement risk, a senior official from the Federal Reserve Bank of New York has said.
Speaking at the FX Week USA conference in New York this morning, Jeanmarie Davis, senior vice-president in the financial institution supervision group at the New York Fed, said industry participants need to be careful that in developing clearing services for
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