WMBA says EC's FX spot consultation misses the point
Focus on spot contract definition avoids real issue, says WMBA
The Wholesale Markets Brokers' Association (WMBA) says the European Commission's consultation document on FX spot contract definitions misses the point and regulators should instead concentrate on providing a clear definition for derivatives contracts rather than address side issues.
The trade body's response comes in the wake of a consultation document from the EC that seeks to clarify what settlement periods separate spot contracts from forwards, for the purposes of the European Markets
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