Mifid’s derivatives open access poses ‘dire consequences’
Diminishing support for CCP open access ahead of European Commission review
The promise of Europe’s rules giving derivatives end-users the choice of where to centrally clear their trades comes with the threat of potentially “dire consequences”, market participants are warning. As a result, even previous supporters are beginning to cool on the idea – known as open access – just as the European Commission is set to review the rules.
“With derivatives open access, you are not sure where your position is held – has it netted out with other derivatives or not?” says Ed
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