Global Correspondence

GFMA Submits Comments to the CSA on OTC Derivatives Central Counterparty Clearing

The Global FX Divsion of GFMA provides responses to the Canadian Securities Administrators (CSA) on the CSA Consultation Paper 91-406 –Derivatives: OTC Central Counterparty Clearing (20 June 2012).  In addtion to its comments, the Global FX Division notes that many of the current legislative and regulatory reforms will have a significant impact upon the operation of the global FX market and we feel it is vital that the potential consequences are fully understood and that new regulation improves efficiency and reduces risk, not vice versa.

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