U.S. banks look to service foreign clients with new derivatives rules

12/3/2012 | Reuters

Wall Street banks are telling foreign clients that they can navigate upcoming U.S. rules governing over-the-counter derivatives by routing trades through their overseas divisions, sources said. "What banks are looking at is: Can they put their business with non-U.S. counterparties through a London entity, and will the regulators in the U.K. accept all the business coming through those entities?" said ASIFMA CEO Mark Austen.

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