Icap European Sef faces axe as US, EU reach equivalence deal
Dual-registered venue no longer necessary under US-EU substituted compliance regime, say lawyers
Mutual recognition of trading venues by European Union and US regulators, agreed on December 5, could spell the end for TP Icap’s dual-registered swap execution facility in Europe.
The European Commission said in a statement released on December 5 that the venue-equivalence decision ensures EU counterparties can trade on US swap execution facilities (Sefs) any over-the-counter derivatives
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