Extraterritorial clash continues for clearing houses


Derivatives users have long come to terms with varying global timelines for the reform of the over-the-counter derivatives market. The US was first to move with the Dodd-Frank Act, with the initial mandatory clearing mandates – for swap dealers, major swap participants and so-called active funds – coming into effect on March 11. Europe is further behind – the European Market Infrastructure Regulation (Emir) came into force last August, but it will be several months before central clearing

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Switching CCP – How and why?

As uncertainty surrounding Brexit continues and the impacts of Covid-19-driven market volatility are analysed, it is essential for banks and their end-users to understand their clearing options, and how they can achieve greater capital and cross…

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