Geithner letter to Hungarian minister weighs in on Emir open access debate

The US secretary of the Treasury, Timothy Geithner, has weighed in on the open access debate in the European market infrastructure regulation (Emir). Geithner recommended to the Hungarian minister of the national economy that the legislation should ensure central counterparties (CCPs) provide non-discriminatory clearing of swaps executed on unaffiliated exchanges and electronic trading platforms. Some market participants believe this recommendation endorses a narrowing in the scope of Emir to ex