Inconsistency on FX among Asia CCPs worries banks

Siddhartha Roy, CCIL: FX forwards should be cleared

At least seven central counterparties (CCPs) across Asia are developing clearing services that could cover foreign exchange, in line with evolving regulations for over-the-counter derivatives, but with each CCP eyeing different products and moving at different speeds, some are concerned about the fragmented landscape that is emerging.

Among seven key regions – Singapore, Hong Kong, India, China, Korea, Japan and Australia – it is China and India that some believe to be out of step with the desir

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