Dealers: central clearing not needed for FX

- Peter Madigan
- 19 Oct 2009

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NEW YORK - Proposals by financial supervisors in Europe and North America to introduce more stringent regulation of the derivatives markets, including the clearing of over-the-counter trades with a central counterparty (CCP), are largely unnecessary in the foreign exchange market, currency traders have claimed.

At a Bloomberg foreign exchange conference in New York, senior dealers debated the future of the currency market and concluded that the resiliency shown by the sector during the credit

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