Raft of EU clearing changes is self-defeating – BNPP lobbyist
Diverging rules between EU and UK starting to threaten EU firms’ competitiveness
Clearing members based in the European Union stand to lose competitiveness to international rivals as a result of an emerging divergence between EU and UK rules, according to a senior lobbyist from BNP Paribas.
“As a global market participant, very active in the EU, less co-operation and different rules are burdensome. It is an issue for us,” said Haroun Boucheta, head of public affairs for securities services at BNP Paribas, during a panel at the Futures Industry Association’s IDX conference
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