Industry welcomes European Parliament recognition of FX

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A clear recognition of the specificities of the foreign exchange market in an amended version of the European Commission’s (EC) regulation on over-the-counter derivatives adopted by a European Parliament committee on May 24 has been welcomed by market participants as a sign European legislation will ultimately echo the US Treasury’s likely exemption of swaps and forwards.

“This is a clear acknowledgement from policymakers that foreign exchange is a global market, underpinning international trade

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