EU active account rule may impose costly CCP basis

Buy-siders say end-users could be forced into volatile Eurex/LCH basis at the worst time under EU proposals

LCH Eurex data

A European Union proposal aimed at forcing some derivatives instruments to be cleared onshore risks imposing an ‘import tax’ on end-users, senior buy-side market participants have warned. They fear their firms may be pushed onto the wrong side of a pricing discrepancy between euro interest rate swaps cleared on Frankfurt based-Eurex and London-based LCH.

The active account requirement, which forms part of the second major revision of the European Market Infrastructure Regulation – popularly

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