Esma derivatives definition hits CME futures volumes
CME Group says energy futures volumes have dropped since it was confirmed that contracts executed on US exchanges could tip firms over the European clearing and trade valuation threshold
CME Group claims that a European decision to categorise cleared futures contracts executed on non-EU exchanges as over-the-counter derivatives has led to a fall in its energy futures volumes as market participants seek to avoid triggering Europe's clearing and valuation reporting requirements.
The European Securities and Markets Authority (Esma) released guidance on the implementation of the
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