EC officials play down US clearing concerns

US EU spat fight boxing AS 230x150
By Costas Mourselas, Jean Comte
29 Oct 2018

European Commission officials have played down concerns expressed by the Commodity Futures Trading Commission over a controversial EC proposal that seeks to revise European oversight of foreign clearing houses. The comments garnered a curt response from a senior CFTC official.

In a leaked document penned by the Directorate-General for Financial Stability, Financial Services and Capital Markets Union, European Commission officials combed through a recent CFTC white paper on cross-border supervision of derivatives markets and largely dismissed concerns held by the CFTC over the EC's central counterparty clearing house

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