Buy-siders reject CCP auction proposals in IOSCO soundings
Buy and sell-side firms have rejected suggestions that they should have to post additional margin or participate in default funds in the aftermath of last year’s default at Nasdaq clearing.
The interventions came in response to a recent Committee on Payments and Market Infrastructures and International Organization of Securities Commissions joint discussion paper on central counterparty default management auctions, which was published earlier this summer.In its response to ...
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