Esma official slams CFTC margin rules

US rules driven by competitive rather than prudential concerns, Planta charges

European commission
EC does not recognise US rules on CCPs as equivalent to its own

A European regulator has questioned the motives of US authorities in adhering to a one-day gross margin requirement for domestic clearing houses.

Fabrizio Planta, team leader for post-trading at the European Securities and Markets Authority (Esma), claimed the US regime was driven by "competitive considerations, and not just by prudential considerations".

Planta's comments – made at a meeting of the Commodity Futures Trading Commission's (CFTC) Global Markets Advisory Committee (GMAC) on May 14

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: