Lack of clearinghouse support stymies FX trading on SEFs

12/16/2013 | Reuters

The derivatives industry is still waiting for foreign exchange options to make their presence known on swap-execution facilities even though rules went into effect in October requiring the transactions to take place on SEFs. No clearinghouse has stepped forward to take a leadership role for the asset class. With no clearing agency available, traders continue to make deals as they always have: on a bank platform or by phone.

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