FIA speaks out against EC's clearing house relocation
The Futures Industry Association (FIA) on Wednesday released a statement arguing that this week's European Commission proposals, which would allow continental regulators to force clearing houses' relocation to the EU, will create market disruption.
The FIA statement, from its president and CEO Walt Lukken, argued that any forced relocation would be bad for the derivatives and clearing industries and called for further dialogue on the matter.
“Forced relocation would fragment markets, diminish the risk-reducing benefits of portfolio margining, harm liquidity, and ultimately increase
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