EC grants clearing reprieve, urges UK cutback

By Ross Lancaster
22 Sep 2020

The European Commission on Tuesday gave the derivatives clearing industry a lifeline by granting an 18 month equivalence decision that will allow European firms to keep using UK central counterparties.

Political tensions between the UK and the European Union have heightened as they negotiate Brexit. But regulators on both sides of the talks have always recognised the systemic risk of terminating EU firms’ access to UK CCPs. Some pro-Brexit voices have called for the UK to use its ...

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