On the Clearing of Foreign Exchange Derivatives
Stanford University - Graduate School of Business; National Bureau of Economic Research (NBER)
Rock Center for Corporate Governance at Stanford University Working Paper Series No. 102
This note discusses the case for exempting foreign exchange derivatives from recent regulatory requirements for over-the-counter derivatives, including clearing, trade competition, and minimum collateral requirements. My conclusion is that the arguments that have been made for such an exemption are not sufficient. I focus mainly on the question of clearing, which figures prominently in arguments favoring exemption.
Number of Pages in PDF File: 11
Keywords: derivatives, foregin exchange, over-the-counter derivatives, trade competition
JEL Classification: G10, G14, G18, G28, G38
Date posted: June 22, 2011
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