FCA: ‘wait and see’ if Mifid swaps rules are ready in January

Trading obligation consultation due by May, as industry urges clarity rather than speed

European policymakers may go to the wire on a decision over whether to introduce the trading obligation for derivatives in time for a January 3, 2018 deadline, prompting calls from market participants for the European Union to focus on clear rules rather than hasty implementation.

“The point at which the legislative process will be finished and the trading obligation can take effect remains pretty uncertain, and doesn’t look as though it will happen terribly quickly,” said Stephen Hanks, a UK