The US futures regulator is looking closely at NDF clearing but market participants are wary of the step
The US derivatives watchdog is considering extending the
clearing mandate to non-deliverable forwards (NDF) despite
concerns over slow electronic trading and ongoing cross-border
The US Commodity Futures Trading Commission (CFTC) will hold
its global markets advisory committee on October 9, where the
agency will discuss whether a clearing mandate is appropriate
for NDF contracts and what impact the mandate will have on the
wider FX derivatives market.
Mandatory clearing of foreign exchange contracts has been
much anticipated, especially by clearing houses such as
LCH.Clearnet which launched its ForexClear service for NDFs two
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