Trading

EU mulls bringing $2tn spot FX trades into regulatory orbit

Esma could subject these foreign exchange contracts to its rules governing market abuse

Financial watchdogs in the European Union are considering oversight of a large chunk of the $6.6tn-a-day foreign exchange market that has until now been exempt from full-blown regulation.

The European Securities and Markets Authority said on October 3 it is considering whether to bring so-called spot FX contracts within the scope of its rules governing market abuse.

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