Clearing in Europe won’t bite until 2015, banks expect

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Europe's clearing rules will not hit a widely anticipated mid-2014 start date, with the first half of 2015 now more likely – but 2016 is not out of the question, banks warn. That would leave Europe at least two years behind the US, and could force many firms in the region to comply with US rules in the meantime. Asked about a delay, Bart Chilton, a commissioner at the Commodity Futures Trading Commission (CFTC), writes in an email to Risk that "continuing to kick the can down the road i