Client clearing not a priority for buy side
The decision of Chicago-based exchange Ice to pull out of the foreign exchange clearing race has raised questions about the appetite among buy-side firms to clear their FX business ahead of any regulatory mandate.
Last week, Ice announced it has shelved plans to launch both dealer and client clearing of FX swaps indefinitely, due to delays from regulators in finalising rules that outline the extent to which FX products will be required to centrally clear under the US Dodd-Frank Act. However
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