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DTCC, SWIFT To Offer FX Trade Repository
The Association for Financial Markets in Europe (AFME) has selected two vendors to offer trade repository for the foreign exchange market.
TheAssociation for Financial Markets in Europe(AFME) has selected two vendors to offer trade repository for the foreign exchange market,The Wall Street Journalreports. TheDepository Trust & Clearing Corporation(DTCC) andnetworking and messaging providerSociety for Worldwide Interbank Financial Telecommunication(SWIFT)have acquired the mandate.
The exchange repository is required to comply with the proposed regulatory changes. Trade repositories support increased safety and soundness of financial markets through greater transparency to global regulators of transactional information and counterparty risk exposures.
Click here for the story fromThe Wall Street Journal.
Click here for the additional coverage fromFX Week.