US FX Committee Releases Guidelines On FX Settlement
DEALING & NETTING
The US Foreign Exchange Committee, which advises the Federal Reserve Bank on FX-related issues, has released a set of Guidelines for Foreign Exchange Settlement Netting, which is designed to help FX market participants reduce settlement risk. The objective of the report, which is a survey of existing netting techniques and services, "is to raise the awareness of the community as to the benefits of netting, a technique that is available to all, but is being under-utilized", says co-chair of the
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