CFTC backs clearing exemption for risk reduction runs
CCP sources concerned about switch to bilateral trades, as other regulators also soften rules
A US regulator has decided to exempt post-trade risk reduction services (PTRRS) from clearing obligations, with some market participants also urging other supervisors to follow suit. Clearing houses, however, fear the exemption could be used to remove derivatives trades from central clearing.
A US bank clearing manager says PTRRS are “helpful for the industry in terms of capital requirement
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