Industry bodies mull reform of disruption fallbacks
Following Argentine peso debacle, GFXC and others seek alternatives to fallback protocol
Foreign exchange industry bodies are discussing changes to contractual standards for currency derivatives in Latin America and other emerging markets. The talks aim to explore alternatives to disruption fallbacks, which kick in when normal exchange rate mechanisms break down.
Dialogue is ongoing within the Emerging Markets Traders Association, the Global Foreign Exchange Committee and the FX division of the Global Financial Markets Association.
Under consideration are plans to base fallback
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