Regulatory fears will boost offshore markets
LONDON – Fears surrounding regulatory disruption of foreign exchange markets continue to snowball. US plans to force over-the-counter derivatives into clearing houses and exchanges now could be more likely given Obama’s hard line on Wall Street.
Market participants remain on edge as EU legislation looms and they wait for the US exemption on forex swaps and forwards to be signed into law. As its stands, international harmonisation in derivatives regulation is still far from assured and
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