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  • Market players in Europe have absorbed “soft costs” of compliance with the U.S. Securities and Exchange Commission’s 17-g5 in the 12 months since it rolled out in the U.S., according to Richard Hopkin, a managing director at the Association for Financial Markets in Europe.
  • Russia legislators have approved close-out netting for derivatives--a move that should fuel growth in a market that has widely been seen as hampered by the issue.
  • The Japan Securities Clearing Corporation has outlined its model for credit default swap clearing and set a target date of July 19 to begin clearing CDS on the iTraxx Japan index.
  • China structurers are working on derivative plays to give offshore investors synthetic exposure to A-shares outside of the Qualified Foreign Institutional Investor scheme.
  • Mortgage securitization trailblazer Lewis Ranieri and economist Ken Rosen are calling for continued government influence in the housing and mortgage market to hasten the sector’s recovery.
  • Investment banks, rating agencies and industry associations in Europe have blasted plans by the European Securities and Markets Authority to force non-E.U. credit rating agencies—and the ratings they give to financial instruments—to meet new, stringent requirements to be valid in the region.