Currency Regulation Risks Rupture, Diversion of Trade, CME Says
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The introduction of new rules governing U.S. and European currency trading needs to be coordinated to avoid a fragmentation of the market, according to CME Group Inc., owner of the world’s biggest futures exchange.
“Nobody wants to see a regulatory regime that starts to bifurcate and create reasons, and maybe not natural reasons, to put business on less-regulated shores,” Derek Sammann, senior managing director of financial products and services at CME Group, said in a panel discussion at the Bloomberg FX Debate in London. “That conversation is critical.”