European Commission undecided on FX treatment
BRUSSELS - The European Commission, the legislative arm of the European Union, is still considering whether it will include an exemption for foreign exchange swaps and forwards in its forthcoming legislation for over-the-counter derivatives, a senior EC official has told FX Week.
Derivatives legislation working its way through the US Congress includes forex exemptions, but the EC is still analysing the FX derivatives market to establish whether it might benefit from mandated central clearing.
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