EU rules delay sparks fears over indirect clearing
CCP members must offer new arrangements for exchange-traded derivatives in January 2018
Clearing members are calling on the European Commission to expedite final rules on indirect clearing for exchange-traded derivatives (ETDs) – in which clients of a clearing member take on clients of their own – or face the risk that compliance in time for a January 2018 deadline will be impossible.
Under the Markets in Financial Instruments Regulation (Mifir), which takes effect at the start of next year, indirect clearing for ETDs is only permissible if the clients at the end of the clearing
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