FX participants rev up for Israeli reporting obligation

New requirement for the shekel comes into force in January

Bank of Israel: reporting requirement covers FX derivatives trades involving the shekel

From January 1, 2017, market participants conducting trades in interest rate and FX derivatives with the shekel will have to report to the Bank of Israel if they have completed a daily average of $15 million in transactions over the past 12 months involving the currency.

To help those caught by the new requirements, regulatory solution vendor Sapient Capital Markets has added the Israeli obligations to its CMRS reporting platform, alongside those for the US, the European Union, Australia,

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