Economics should drive change
Since September, foreign exchange committees in the UK, US and Canada have been outlining their concerns about using a central clearing facility. Though all state there is some value, they indicate this is outweighed by the negatives and that using a central clearing for foreign exchange trades is not their preferred route.
The London Foreign Exchange Joint Standing Committee (FXJSC) has highlighted a series of risks, including the concentration risks associated with the third-party
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