Special report: South Africa
Wind the clock back a year, and one of the big concerns for derivatives market participants was that national regulators would fulfil the Group of 20 clearing commitment by insisting that a portion of trades in their market would have to go through a domestic central counterparty (CCP). It was an issue in the eurozone, where the European Central Bank was pressing for any clearer of euro-denominated trades to have immediate access to euro-denominated central bank liquidity. It was also under
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