EU lawmakers converge on centralising Simm validation

Industry cautiously optimistic Council and Parliament will support EBA compromise

Council of Europe building
Council of Europe building, Strasbourg
Photo: KH-Pictures / Alamy Stock Photo

Market participants believe there is growing support among European Union lawmakers for creating a co-ordinated supervisory process to validate initial margin models, while also exempting end-clients from the requirement.

A confidential draft text, produced by the Spanish government – which currently holds the presidency of the Council of Europe – and seen by, proposes implementing in full a set of recommendations made by the European Banking Authority earlier this year. This would

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