KRX adds 16 foreign branches for mandated won IRS clearing
Korea Exchange signs up 16 foreign bank branches for its IRS clearing service prior to June 30 deadline from its local regulator, while CFTC expected to announce no-action relief for KRX
Korea Exchange (KRX) has revealed a list of 16 foreign bank branches that have been admitted for direct clearing of won interest rate swaps (IRS) in time for a June 30 mandate from the Korean regulator. Later today the Commodity Futures Trading Commission is expected to confirm no-action relief for KRX until the end of the year.
In a few days' time Korea will become the latest clearing house in Asia to fulfil its Group of 20 (G-20) commitment to clear standardised derivatives. Korea's mandate
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