Clearers challenge Massad over EU client protections

Market participants have challenged CFTC chairman Timothy Massad's suggestion that Europe's CCP margin rules put customers at greater risk

EU flag
Commingling only a problem in theory, say European CCPs

Clearing banks and central counterparties (CCPs) have challenged a top US regulator's suggestion that European clearing rules put customers at greater risk.

Timothy Massad, chairman of the Commodity Futures Trading Commission (CFTC), drew attention to what he called "a difference in the treatment of house affiliates" under European rules at the European Parliament, where he delivered a speech on margin methodologies for CCPs last month. Affiliates, in this context, are the other legal entities

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here