Fed official reiterates forex options clearing guidelines
Any solution proposed must meet international standards
The clearing and settlement of foreign exchange options must come in line with international standards around CPSS-Iosco principles in order to ensure participants receive money on time, according to Lawrence Sweet, senior vice-president, payments policy, at the Federal Reserve Bank of New York.
Speaking at FX Week USA in New York, Sweet highlighted the ongoing discussions taking place between the Global Financial Markets Association (GFMA), forex settlement utility CLS, and various central
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