Australian regulator may review nexus trade approach
Asic responds to industry fears that a non-standard treatment of cross-border clearing could pose problems
The Australian securities regulator, Asic, has said that it may review how it treats nexus trades – derivative transactions that are booked or traded abroad – under new central clearing rules that are being drawn up.
This follows a push-back from industry, which feared that the imposition of non-standard rules in Australia could create widespread uncertainty and require the development of additional systems for clearing Australian dollar swaps.
Last year, Asic decided to depart from the approach
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