ESMA targets clearing as reg shift looms

By Dan Alderson, GlobalCapital
26 Jan 2017

The European Union this week added to the sense that global derivatives market regulation is set for a shake-up, with the European Securities and Market Authority calling for changes to “third country” central counterparty treatment and for a softer stance on how some market participants adhere to clearing rules.

The chairman of the ESMA, Steven Maijoor, complained of a mismatch in the treatment of EU central counterparties by other regulatory authorities versus that of overseas CCPs operating in the EU, at a time when a change of US regulatory direction also appears imminent.

Maijoor used his keynote ...

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