Frandt or foe? FCMs hit back at Esma buy-side clearing salvo

Esma pushes dealers to publish standardised fee schedules amid clearing capacity fears

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Dealers are on the defensive about proposed new regulations that could force futures commission merchants (FCMs) to disclose sensitive commercial terms – constraining their ability to negotiate complex and sensitive clearing arrangements with buy-side clients in Europe.

FCMs tell Risk.net they are concerned about a new consultation paper from the European Securities and Markets Authority, published on October 3. In it, Esma aims to advise the European Commission (EC) on new rules to make

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