European Commission grants CCP equivalence ahead of Brexit

By Ross Lancaster
09 Jul 2020

The European Commission has given the derivatives clearing market some hope, as it signalled on Thursday that it was going to extend its equivalence agreement with the UK.

Central counterparty clearing house equivalence between the European Union and UK has proven one of the most contentious parts of a financial services Brexit agreement.

It is also one of the most important, covering about $74tr notional of EU-UK derivatives positions. The Commission’s executive vice-president Valdis Dombrovskis has ...

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