EU ‘non-paper’ reveals new effort to delay CCP open access

Negotiations on CCP recovery and resolution could provide a route to postpone Mifid rule

EU delay question

The debate over whether to delay a European Union rule that gives listed derivatives participants the freedom to choose where they clear their trades has found its way into negotiations on an unrelated regulation.

The rule, popularly known as open access, is contained in the Markets in Financial Instruments Regulation (Mifir). When Mifir and its accompanying directive, Mifid II, came into force in January 2018, exchanges that offer both derivatives trading and clearing were handed a 30-month

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