EC considers six-month pause for CME's ‘doomsday clock’

Foreign CCPs may get surprise grace period

European commission
The European Commission

The European Commission is considering giving its markets watchdog a further six months to assess whether clearing house rules in foreign jurisdictions match up to those in the European Union, postponing a potential capital hit for banks that use non-approved central counterparties (CCPs). Capital requirements were due to jump on December 15 – a supposedly immovable deadline that has been described as a "big doomsday clock" by one CME Group executive.

Speaking at a Futures Industry Association

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