BBA launches European foreign exchange contracts for difference
NEWS
LONDON -- The British Bankers Association launched its Contracts for Difference (CFD) index rates in early March -- although bankers are unlikely to be using the index to settle trades yet, BBA director of regulation and risk, Simon Hills told FX Week.
The service, which aims to reduce settlement risk in the spot FX market, went live on Reuters (index page CFDFIX01) on Friday March 9, after months of testing. Hills told FX Week: "Until people feel that the benchmark is there and they are happy
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