Spot FX faces clearing threat
The five-strong panel discussed the logistical issues of enforcing regulation in the over-the-counter derivatives market, raising concerns over how foreign exchange will be adequately cleared.
Mark Yallop, group chief operating officer at Icap, said shorter-maturity products, including spot FX, might be forcibly cleared along with longer-dated FX products. "Otherwise people will be left with an unhedged position between a cleared product on one side and an uncleared product on the other," he
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