EC calls for more time to vet foreign CCP oversight

Third extension "necessary and proportionate", says EC internal document

European commission

The European Commission (EC) has run out of time to vet the supervisory regimes for dozens of clearing houses in 14 jurisdictions, and is calling for the existing June 15 deadline to be pushed back by a further six months – the third time it would have been extended.

The postponement would give more breathing space to CME Group, which is the biggest central counterparty (CCP) yet to be authorised by the EC. Capital requirements for so-called qualifying CCPs (QCCP) are a fraction of those for

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