Esma warns new foreign clearing house rules could backfire
Löber says euro swaps trading may move away from CCPs that face toughest EU scrutiny
One of the most senior officials responsible for the regulation of foreign clearing houses in the European Union has warned that mooted EU policy could “worsen the status quo” by driving swaps clearing further away from European supervision.
The European Commission is preparing new legislative proposals designed to accelerate the post-Brexit shift of derivatives clearing – especially euro-denominated interest rate swaps – from the UK into EU central counterparties (CCPs) such as Eurex. But
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