Barclays' Harrison calls for phased start to clearing in Europe

Staggered roll-out was key to success of clearing rules in US, says securities co-head

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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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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