Clarity needed on clearing rules for non-EU entities

By Hazel Sheffield
22 Oct 2014

Market participants outside the EU are grappling with a European regulation that mandates clearing for non-EU-derivatives contracts, resulting in a lot of differences in interpretation, according to lawyers.

On October 10, the European Market Infrastructure Regulation came into force for derivative contracts between two non-EU counterparties in jurisdictions not deemed equivalent to Europe, but where the contract could have a direct, substantial and foreseeable effect in the EU. From this date, certain non-EU counterparties, or third ...

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