Esma puts NDF clearing on hold

The regulator wants time to assess market feedback

European Securities and Markets Authority

Non-deliverable forwards (NDFs) will not be subject to a clearing mandate in the EU for the foreseeable future as the European Securities and Markets Authority (Esma) has announced it needs more time to address the concerns raised by market participants, published in a feedback report on February 4.

Esma launched the consultation regarding NDF clearing on October 1, taking responses from 38 participants in the process, including those from central counterparties, exchanges, and buy- and sell

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