Fx dealers push EC for fx settlement clarity

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Fx dealers push EC for fx settlement clarity

James Kemp

Global fx dealers are urging the European Commission to adopt one single cut off-period that delineates fx spot contracts from fx forwards and other fx instruments. Fx spot transactions generally settle within two valid banking days and dealers have urged the Commission to define an FX spot contact as an agreement between two parties to exchange one currency for another within the customary timeline of the relevant spot market.

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