The foreign exchange industry is voicing concerns about the European Market Infrastructure Regulation. Banks and ISDA encouraged the European Securities and Markets Authority to exempt forex derivatives from EMIR. U.S. regulators already exempted FX derivatives from their overhaul of over-the-counter derivatives. "The industry believes strongly that a level international playing field is required to promote competition and prevent the distortions in trade which result from differing regulatory regimes," according to ISDA.

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