EC OTC reforms await clarity on US clearing exemptions


The European Commission’s (EC) plans to enact wide-ranging regulation of over-the-counter derivatives markets, including mandating central clearing, will be heavily influenced by policy decisions over exemptions taken by US authorities, a senior European official has acknowledged.

Speaking on condition of anonymity, a senior figure inside the EC’s Financial Markets Infrastructure unit conceded that some elements of the Commission’s approach to reform OTC markets may be constrained by the

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