Buy-side firms await regulatory clarity
Many buy-side firms active in the foreign exchange market have yet to start putting systems and processes in place to meet new regulatory requirements to centrally clear over-the-counter derivatives trades, with most awaiting greater regulatory certainty.
Both the US Dodd-Frank Act and the European Market Infrastructure Regulation require a large portion of the OTC derivatives market to be cleared through central counterparties (CCPs) – in turn forcing many buy-side users to sign up with
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