Experts scrutinize clearing plan for forex products

12/8/2011 | (subscription required)

Under U.S. and European regulations, clearing of foreign exchange products has taken a strange path, said panelists at an industry conference. The least risky forex products will be cleared first, experts said. Mark Croxon, global product manager for over-the-counter clearing at Nomura, said clearing of nondeliverable forwards has become the focal point, after a proposal to exempt forex spot, swaps and forwards as well as challenges with clearing options.

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