US firms frustrated by EU clearing timeline

Deadline may not bite until December 2016 for most European firms

US markets

Thousands of European derivatives users will not have to clear their trades until April 2016 at the earliest under a timeline proposed by the European Securities and Markets Authority (Esma) on Friday. That is three years after comparable rules took effect in the US, and there is a real possibility clearing may not start for the lion's share of European firms until December 2016.

That prospect worries some US market participants, who fear the long transatlantic lag will stifle the growth of swap

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