International Associations Issue Best Practice Guidelines For Y2K

REGULATORS

NEW YORK--In a move that reflects a growing degree of cooperation between international FX market regulators and industry associations, an array of professional organizations from around the globe issued a joint set of recommendations last week aimed at minimizing confusion associated with Y2K FX settlement failure.

The New York Foreign Exchange Committee (FXC), together with the Emerging Markets Traders Association (EMTA), the International Swaps and Derivatives Association (ISDA) and

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