World Bank bets on compression for emerging market currencies
New York-based start-up LMRKTS gets backing to support illiquid markets
A fintech start-up that helps the world’s biggest dealers to reduce capital and margin requirements for foreign exchange derivatives trades is receiving a cash injection from the World Bank, which believes the service can help foster liquidity in emerging market currencies.
New York-based LMRKTS offers a compression service that is currently used by a core group of 10 big banks, allowing them to reduce bilateral exposures by tearing up some trades and adding new ones. Since its launch in late
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