All clear?
The European Commission is working on a clearing and settlements directive, partly to complement MiFID. Duncan Wood explores the political and operational challenges faced by the financial services industry
One of the European Union's great problems is that laudable ideas tend to disappear under a pile of working groups, consultation papers and arcane-sounding bureaucratic processes, making it hard to remember what it was that made the whole thing worthwhile. The field of clearing and settlement is doubly handicapped in that it doesn't really stir the blood to begin with.
So, when Mario Nava – head of
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