Hopes grow that US CCPs will get green light from EC

Green light at a traffic light

Banks and central counterparties (CCP) are increasingly hopeful the European Commission will overlook differences in transatlantic clearing house rules and decide the US regime is equivalent to that in Europe – a step that would remove the threat of European banks giving up their membership of US CCPs. "I've been working on this for over a year, and this is the best I've felt about things in terms of political will and resolving substantive differences – it's all moving forward,"