Exchange leaders debate impact of open access on CCPs

Jeffrey Sprecher
By Hazel Sheffield
10 Jun 2014

Forcing clearinghouses to connect to rival venues under the revised Market in Financial Instruments Directive may have the unintended consequence of stifling competition among clearinghouses, leading to a small number of incumbent houses holding large amounts of risk.

Jeffrey Sprecher, ceo of IntercontinentalExchange, said on the ‘Exchange Leaders’ panel on Tuesday that the revised regulatory regime will mean new venues are less able to compete. “I started a clearinghouse here in London, Garry [Jones, ceo of London Metal Exchange,] started a clearinghouse here ...

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