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Surge in Derivatives Sends Scandinavia Into Clearing Dispute

  • Scandinavian banks prepare to fight ESMA on derivative plans
  • ESMA is backed by Nordic central banks on clearing proposal
Updated on

A surge in derivative trades in Scandinavian currencies is fueling a dispute between banks and regulators over planned clearing rules.

Since 2007, trading in interest-rate swaps and forward-rate agreements in Scandinavian currencies has jumped as much as five-fold.