GOLDILOCKS
"CFTC Approves Proposed Amendments to Regulations Regarding Real-Time Public Reporting and Swap Data Recordkeeping and Reporting Requirements"
This new data collection is expected to harmonize International Data swap transactions that takes place on the Forex Market. It begins on January 1st, 2024 .
It is designed to create accurate and efficient reporting of the data being transferred back and forth between cross border International trading.
The UPI is expected to adopt and use this new reporting rule on January 29th, 2024. The Unified Payments Interface is the foreign currency mechanism that India is going to use next year in International trade between countries.
Iraq, Vietnam, and Indonesia are three of several countries that will utilize this UPI interface.
It will allow several Banks across the world to exchange on the Forex Market under one digital mechanism.
© Goldilocks
https://www.cftc.gov/PressRoom/PressReleases/8835-23
https://www.cftc.gov/PressRoom/SpeechesTestimony/phamstatement121523b
https://www.cftc.gov/PressRoom/PressReleases/8659-23
https://www.cftc.gov/LawRegulation/DoddFrankAct/Rulemakings/DF_18_RealTimeReporting/index.htm
https://www.cftc.gov/LawRegulation/DoddFrankAct/Rulemakings/DF_17_Recordkeeping/index.htm
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