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Fx Clearing System


The FX market has already made progress on both clearing and reporting in the last 15 years.

In the United States non domestic FX transactions involving US dollar are cleared electronically through the Clearing House Interbank Payment System (CHIPS).

Chips handles more than 360.000 interbank transfers daily for a transacted total value of around $2trillion that represents 95% of all interbank trades relating to international dollar payments.

Domestic money transfers for the US dollar are cleared in North America by the FedWire system that is operated by the Federal Reserve.

Outside US the largest clearing house is LCH.Clearnet.

LCH.Clearnet provides for clearing, settlement and novation through ForexClear of FX trades that are registered and settled up to 24 hours a day, 5.5 days a week.


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