Clearing of physical FX in China and India a concern, says GFXD’s Ngai
Plans by central counterparties (CCPs) in India and China to clear physically delivered foreign exchange products, including spot and forwards, are a concern for banks that could be hit with punitive capital charges if those CCPs do not meet international standards, a major FX lobby group has warned.
Speaking at the FX Week Asia conference in Singapore last week, David Ngai, Hong Kong-based managing director of the global FX division of the Global Financial Markets Association, stressed the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe
You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@fx-markets.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@fx-markets.com
More on Clearing and settlement
Navigating the T+1 implications for FX traders
This FX Markets webinar provides actionable insights for industry professionals navigating the implications of T+1 across their settlement workflows and FX trading operations
Clearing to become cheaper alternative to PB for most clients
IDX panel says it’s doubtful FX will ever see a clearing mandate
LCH adds five currencies to non-deliverable swaps offering
Expansion in response to customer demand in Asia and Latin America
Nomura’s asset manager extends CLSSettlement to Japanese funds
First local asset manager to provide access in sign of success for buy-side adoption push
FX Link adds two more currency pairs
CME now offers spot FX basis spreads for eight pairs versus futures
CME clears FX cash-settled forwards for first time
Service debuts in January with two EUR/USD trades
Traiana offers USD/CNH and USD/HKD clearing via HKEX’s OTC Clear
Deliverable contracts are forwarded to Hong Kong Exchange via Traiana’s clearing hub CCP Connect
Two banks sign up for ForexClear compression
New service brings greater capital and operational efficiency to FX market participants
