Automated NDF confirmations on track
LONDON & NEW YORK - The foreign exchange industry is on target to automate 50% of non-deliverable forwards (NDF) confirmations by year-end, the Bank of England Foreign Exchange Joint Standing Committee (FXJSC) announced last Wednesday.
The push is part of efforts to increase efficiency and control of the FX market by further automating post-trade affirmation and confirmation. Currently, 25% of NDF volumes use electronic confirmation solutions while non-deliverable options (NDO) and barrier
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