ACI Recommends Banks Halt Trading Amid Euro Launch
SYDNEY--A recommendation by ACI--The Financial Markets Association is calling upon forex market participants to avoid trading from Christmas through the first week of January, in an effort to mitigate settlement risks associated with the introduction of the euro on January 4.
"We are asking banks to refrain from taking positions, other than for customers (in which case, these trades should be offset immediately) from Christmas through the first week of January," says ACI president, Heering
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