ISDA warns EC on euro clearing location policy

The International Swaps and Derivatives Association (ISDA) has advised European Commission officials against legislating to relocate the clearing of euro denominated products to the Eurozone.

  • By Costas Mourselas
  • 12 Jun 2017

In a letter addressed to financial services commissioner Valdis Dombrovskis, ISDA asserts that a requirement to clear euro interest rate derivatives in an “EU based CCP (central counterparty)” would “result in an overall IM [Initial Margin] increase in the range of 15-20%”.

Such a policy, which has gained ...

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