Esma kicks off NDF clearing consultation
Timeline for implementation still vague, with options clearing also lagging
The European Securities and Markets Authority (Esma) has launched a consultation on non-deliverable forward (NDF) clearing, though a target implementation date for the final rules has yet to be set.
According to the consultation document, NDFs referenced in Brazilian real, Chilean peso, onshore renminbi and seven other mainly emerging market currencies will be authorised.
NDF clearing is already in operation through ForexClear, operated by LCH.Clearnet, CME Clearing Europe and SGX in Singapore
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