Dealers braced for Taiwan swaps clearing mandate
Expected FSC directive on TWD interest rate swaps could spur growth in FX clearing, say bank execs
International banks are rushing to become clearing members at Taiwan Futures Exchange (Taifex) ahead of an expected directive from Taiwan’s financial regulator that will make it mandatory for banks to centrally clear their New Taiwan dollar (TWD) interest rate swap trades. Some dealers predict it could also lead to an expansion of foreign exchange derivatives clearing in the country.
Market participants expect Taiwan’s Financial Supervisory Commission to make a formal announcement establishing a
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe
You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@fx-markets.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@fx-markets.com
More on Regulation
FX defs look to calculation agents for close-out rates
New Isda rule book also set to streamline ‘impossibility’ standard for disruption events
Iosco pre-hedging review: more RFQs than answers
Latest proposals leave observers weighing new clampdown on pre-hedging
Isda to finalise drafting updated FX definitions this year
New definitions on disruption events and fallbacks are core focus
Iosco mimics industry codes to tackle pre-hedging dilemma
Advocates breathe sigh of relief, but Iosco release carries suggested restrictions
Doubts raised over new FX platform disclosures
New disclosure sheet template will require platforms to outline how they charge for data
The GFXC chair on the next steps for the FX Global Code
Gerardo García speaks about updating FX best practice, improving buy-side engagement and changes to the BIS’s triennial survey
India delays initial margin go-live date
RBI communicated putting off initial margin rules one day before planned November 8 implementation
New rate to give Philippine peso swaps a fillip, post-Isda add
Isda to include new PHP overnight rate and Indonesia’s Indonia in its next definitions update
