NDF clearing could be delayed until February 2016
The foreign exchange subcommittee of the Global Markets Advisory Committee has submitted a condensed 10-page report to the US regulator, proposing a 12-month schedule for clearing non-deliverable forwards
Mandatory clearing for non-deliverable forwards (NDFs) might not start until February 2016 in the US, after market participants asked the Commodity Futures Trading Commission's (CFTC) Subcommittee on Foreign Exchange Markets (FEM) to consider pushing back the clearing schedule to allow enough time to prepare for changes.
In March 2014, CFTC commissioner Scott O'Malia said at an industry conference that NDF-clearing proposals were imminent and could arrive within the next six weeks. Previously
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