Nasdaq OMX to decide on forex clearing by mid-2014
Nordic CCP had hoped to be clearing NDFs by November 2013, but insists it has not abandoned the idea – it's just a less pressing need with customers focusing on interest rate swap and credit default swap clearing
Nasdaq OMX will decide in the coming months whether and when it will pursue a long-planned launch of foreign exchange derivatives clearing. It is already discussing the design of a service with some banks, but says customers are currently most focused on products that are likely to be part of the first wave of European clearing mandates, such as interest rate swaps.
"Before we launch any clearing solution, we want to make sure we have customer backing. We are in discussions with a number of
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