EU moves fast on clearing resolution, knocks out open access
The European Parliament reached a quicker than expected agreement on central counterparty clearing house recovery and resolution on Tuesday night, settling on a framework for second skin in the game requirements and also pushing open-access rules out for another year.
The decision to delay open access, a second Markets in Financial Instruments Directive rule that has already been on ice for two and a half years, will grab most market participants’ attention.
Most had expected another delay for some months. Germany,