Barclays' Harrison calls for phased start to clearing in Europe

European authorities urged to learn from the successful roll-out of clearing in the US, by phasing compliance – and possibly also giving Esma the power to postpone start dates

Harry Harrison
Harry Harrison, Barclays

European derivatives users have been urged "don't be late to the party", with the clock now counting down to the start of mandatory clearing.

Speaking at the annual meeting of the International Swaps and Derivatives Association, Harry Harrison, co-head of securities at Barclays, said European regulators should relieve pressure on market participants by phasing the start of the regime, as was the case when clearing rules took effect in the US last year.

"Staggered implementation of this was key

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