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

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


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 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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