The European Securities and Markets Authority (ESMA) has published a Feedback Statement on its consultation on the clearing obligation for non-deliverable forwards, published in October 2014.

ESMA states that based on the feedback received to its consultation, it is not proposing a clearing obligation on the non-deliverable foreign-exchange forwards classes. Although ESMA might propose a clearing obligation on such classes at a later date, it believes that more time is needed to appropriately address the main concerns raised in the responses.

View Feedback Statement: Consultation on the Clearing Obligation for Non-Deliverable Forwards, 4 February 2015