Currency derivatives - regulating with consistency

The WMBA says regulatory inconsistencies may harm markets

David Clark is chair of the Wholesale Markets Brokers Association
David Clark, WMBA

Since biblical times the foreign exchange market has been the largest and most liquid in the world, underpinning the operation of the global economy by serving the needs of market participants. Over the past few years, however, complexities have emerged, leaving people in the dark over how some regulators will approach the rule changes dealing with specific FX markets and their derivatives.

In the US, the FX derivatives market has been regulated since the introduction of the Dodd-Frank Act in

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