Barnier hints at longer pensions clearing exemption

EC internal markets head says clearing system not ready for pension funds

Michel Barnier
Michel Barnier, European Commission

The European Commission's outgoing head of the internal market and services division, Michel Barnier, has hinted that the EC will extend the temporary exemption pension funds have from mandatory clearing of their over-the-counter derivatives trades beyond 2015.

Pension funds may have to clear their OTC derivatives as early as August 2015, but in an interview with Risk, Barnier says he does not believe the clearing system is ready for pension funds to clear their OTC derivatives trades.

"I don't

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