UK's FXJSC puts brakes on forex CCP
In the paper produced by the FX market working group of the London FXJSC and endorsed at last Wednesday's meeting of the main committee, the FXJSC said: "Given the specificities of the foreign exchange market it might be that pursuing the agenda of credit risk reduction mechanisms that stops short of an FX market CCP is more appropriate at this stage."
The committee said that, while a CCP would benefit longer-dated currency products such as FX forwards, FX options and in particular cross
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