Esma’s Maijoor: Frontloading rule due in weeks

Esma recognises pricing uncertainty caused by frontloading, chairman says

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Steven Maijoor, Esma

The European Securities and Markets Authority (Esma) will publish rules on frontloading within weeks, according to Esma chairman, Steven Maijoor, who adds that the regulator is aware of the pricing headaches the provisions are causing. Frontloading is a requirement of Europe's incoming swap clearing rules that can force existing trades to be passed to a clearing house, potentially altering their cost structure. "It is beneficial to inform the market as quickly as possible, and we will publish