Commission grants reprieve to EU OTC derivatives traders
The European Commission has signed off on a piece of legislation that, if unopposed by the European Parliament and Council, could extend clearing compliance deadlines for smaller over the counter derivatives traders.
Despite the fact that the industry has been calling for such a move for months, the legislation, which was passed last Friday, was not announced in a press release.
The amendments proposed were simple in nature, only changing the commencement date of clearing obligations for category three counterparties
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