In U-turn, EC extends euro clearing consultation deadline

Responses to over 200 questions on the future of euro clearing must now be submitted by March 22

European Commission

The European Commission is giving banks and clearing houses two additional weeks to respond to a wide-ranging consultation on the future of euro clearing, despite previously rejecting calls for an extension.

The EC announced earlier today (March 2) that market participants will have until March 22 to respond to a slew of proposals designed to push derivatives clearing from London to the European Union. The original deadline was March 8. The extension “was totally unexpected”, says one lobbyist

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