Lack of frontloading clarity irks industry

By Hazel Sheffield
26 Mar 2014

The lack of regulatory clarity surrounding the process for frontloading of cleared trades is irking market participants after NASDAQ OMX became the first clearinghouse approved under the European Markets Infrastructure Regulation. According to lawyers, market participants are unsure which classes of derivatives traded since March 18 will need to be frontloaded.

“The timing of the opening of the frontloading window with NASDAQ OMX becoming authorized generally took market participants by surprise and has generated a lot of confusion,” Emma Dwyer, partner at Allen and Overy in London, told GlobalCapital.

Michael Voisin, a partner at Linklaters in London which advised ...

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