Industry reiterates need for FX exemption in uncleared margin rules
The foreign exchange industry has pushed hard for FX swaps and forwards to be excluded from new margining rules on uncleared over-the-counter derivatives, claiming their inclusion would increase costs for end-users and reduce liquidity in the forex market.
The arguments were made in responses to a second consultation paper published on February 15 by the Working Group on Margining Requirements (WGMR) – a body led by the Basel Committee on Banking Supervision and the International Organization of
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