The International Swaps and Derivatives Association (ISDA) launched a market participant survey in April to gather feedback on whether the 1998 FX and currency option definitions and related documentation should be updated.
It took into account developments in the FX market such as currencies becoming non-deliverable and the general evolution of foreign-exchange trading during the past 25 years.
According to an ISDA spokesperson, the survey was designed to garner market feedback on whether changes to the FX definitions are necessary and, if so, where there was market consensus for change.
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