EC expected to amend frontloading timeline
The European Commission is expected to amend its frontloading timeline, say dealers, which could further delay the start of clearing in Europe
Dealers are cautiously proclaiming victory in their latest fight over frontloading, with the European Commission said to be planning amendments to a timeline published by the European Securities and Markets Authority (Esma) – a move that could further delay the start of clearing in Europe.
"It's unfortunate that it adds further delays to clearing, but it's the right approach to ensure we have full legal certainty," says Eugene Stanfield, head of derivatives clearing and execution for fixed
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