CFTC's Giancarlo calls for CCP equivalence to prevent 'trade war'

Christopher Giancarlo CFTC 230x150
By Hazel Sheffield
24 Sep 2014

Europe must recognise US central clearing counterparties as equivalent under European Markets Infrastructure Regulation to avoid further balkanisation of liquidity and market pricing started by the Commodity Futures Trading Commission's swap execution facility mandate.

Christopher Giancarlo, commissioner at the Commodity Futures Trading Commission, called for the regulatory relationship between the EU and the US to be reset on Wednesday, warning that failure to do so could result in a "trade war" akin to the protectionism of the 1930s ...

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