Emir review delayed until June 7

Postponement increases risk of entangling the review with Brexit euro clearing debate

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A review of the European Market Infrastructure Regulation (Emir), at the centre of a battle to relocate euro-denominated derivatives trades from London to Paris, has been delayed from March 14 until June 7, according to the European Commission. The delay pushes the Emir review beyond the UK’s triggering of Article 50 to exit the European Union.

“So third-country politics will have to be addressed,” according to the head of regulatory affairs at a leading broker. “This is opening Pandora’s box

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