Raft of EU clearing changes is self-defeating – BNPP lobbyist

Diverging rules between EU and UK starting to threaten EU firms’ competitiveness

EU keep out

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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