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An Indian Ministry of Finance’s working group on foreign investment is recommending that foreign institutional investors be allowed to buy fx futures.
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Crédit Agricole CIB has named Frédéric Lainé as head of the firm’s financial institutions group for international client coverage in Asia ex-Japan.
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Corporate end-users are hedging against a rise in the U.S. dollar/Chinese yuan using bonus forwards in an otherwise quiet Asian fx market.
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The planned retirement of Financial Accounting Standards Board Chairman Robert Herz has thrown proposed changes to derivatives accounting into question, as the exposure draft only passed the board by a 3-2 vote, with Herz in favor.
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The lowest barrier in a rash of digital one-touch euro/U.S. dollar trades was hit Tuesday—making the strategy a big payer for the hedge funds that executed them. Talk of the trades held center stage amid the traditional thin late August fx marts last week.
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Citigroup has named Todd Elmer head of G10 fx strategy for the Asia Pacific region.
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A coalition of industry groups, including the Association for Financial Markets in Europe and the International Swaps and Derivatives Association, has expressed concerns about a single reporting regime for both transaction and position reporting on over-the-counter derivatives based on reporting through trade repositories.
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The International Swaps and Derivatives Association and the International Islamic Financial Market will release in the next four to six weeks drafts of pro forma confirmation documents for Shariah-compliant currency swaps and profit rate swaps.
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The Securities and Exchange Commission and the Commodity Futures Trading Commission should make sure to take into account collateralization when setting the threshold for who counts as a major swap participant, according to Philip McBride Johnson, of counsel with Skadden Arps Slate Meagher & Flom and a former head of the CFTC.
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One European hedge fund bought a EUR17 million (USD21 million) four-month digital one-touch option on the euro/U.S. dollar with a barrier of USD1.05 last Tuesday in an otherwise quiet market for fx options.