Regulators exempt forex swaps and forwards from initial margin rules
The foreign exchange industry has secured an exemption of physically settled forex swaps and forwards from requirement to post initial margin for non-centrally cleared derivatives. The decision was noted in a set of international rules published today.
The Working Group on Margining Requirements (WGMR) – a joint working group of the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (Iosco) – has deliberated for 14 months on the final shape
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