Diverging regulation greatest threat to FX market, say clearers
Differences in regulations on either side of the Atlantic are the biggest threat to growth in a market still grappling with new rules, said clearers at a Bloomberg event in London on Wednesday.
“A split of regulation will hamper growth. A lot of our clients want a particular type of treatment for clearing that is fine under EU bankruptcy law but trickier under US law – will that create a movement of business? That’s in no-one’s interest,” said Gavin Wells, chief executive of ForexClear at LCH
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