Final Esma clearing rules too rigid, CCPs say

different-paths

Final European rules on margining and risk management policies for central counterparties (CCPs) are too rigid, and could require the region's clearing houses to collect more margin for futures trades than their competitors in the US, according to industry critics. The rules were published on September 27 by the European Securities and Markets Authority (Esma), following a seven-month consultation, and add detail to the clearing rules contained in the European Market Infrastructure Regulation.

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