Metals traders shun clearing due to Emir, says LME chief
Emir's introduction of segregated clearing accounts is pushing firms towards trading OTC, says LME head Garry Jones
The European Market Infrastructure Regulation (Emir) is having the unintended consequence of deterring base metals market participants from clearing their trades, says Garry Jones, chief executive of the London Metal Exchange (LME) and co-head of global markets at Hong Kong Exchanges and Clearing.
Emir, which entered into force in August 2012, introduces reporting requirements for exchange-traded and over-the-counter derivatives, as well as mandatory clearing for many OTC trades. But in an
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 info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Metals
Interview: Can Matthew Chamberlain rescue the LME?
London Metal Exchange CEO identifies problems, awaits contract and fee structure revamp feedback
Base metals dealer of the year: BNP Paribas
French bank expands hedging and finance solutions to mainland China
Asia precious metals house of the year: Citi
Citi builds full-service Asia strategy as others exit market
LME Clear ‘welcomes scrutiny’ of CCP risk management
Oversight from clearing members is good for central counterparties, says LME Clear CEO
Metals house of the year: SG CIB
Barclays and Jefferies Bache deals highlight bank’s commitment to metals
LME eyes Asian growth while dealing with regulation
Garry Jones on China, warehouses, clearing and financial regulation
Energy Risk Asia Precious Metals House of the Year: ANZ
ANZ connecting physical players with reach and structuring ability
Precious metals dealers search for better benchmarks
Increasing participation seen as crucial to repairing pricing
