5/18/2011

FXall CEO Phil Weisberg said that although the Treasury Department proposed exempting foreign exchange swaps and forwards from derivatives rules, the industry still faces sweeping changes. "As soon as the 30-day comment period is over, people will then begin to focus on the tough work ahead of getting trades to a repository, setting up clearing solutions for nonexempted products in foreign exchange and then eventually dealing with meeting the [execution] requirements," he said.

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