CCP turf war simmers as OTC regulations head to the European Parliament

CCP turf war simmers as OTC regs head to European Parliament

Euro banknotes

Non-eurozone central counterparties (CCPs) could find themselves locked out of clearing euro-denominated swaps under new European Union (EU) legislation for over-the-counter derivatives if French politicians and regulators get their way. The French are the most vocal of a group of EU member states pushing for CCPs to be required to have access to central bank liquidity in the same currency as the product being cleared.

That might mean only CCPs located in the eurozone with access to the European

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