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Article 21
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Prior permission shall be obtained from the Central Bank when a securities firm's OTC financial derivatives trading and related hedging transactions involve foreign exchange Foreign exchange settlement matters shall be carried out in accordance with the Regulations Governing the Declaration of Foreign Exchange Receipts and Disbursements or Transactions and related regulations.
A securities firm may carry out hedging transactions in the capacity of a customer with designated banks and foreign financial institutions that have received Central Bank approval for derivatives and foreign exchange business.
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