FX market a challenge for CCPs, says New York Fed official

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Central counterparties (CCPs) will find it difficult to develop clearing solutions for the foreign exchange market that address both counterparty risk and settlement risk, a senior official from the Federal Reserve Bank of New York has said.

Speaking at the FX Week USA conference in New York this morning, Jeanmarie Davis, senior vice-president in the financial institution supervision group at the New York Fed, said industry participants need to be careful that in developing clearing services for

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