Eurex Clearing’s Emir approval has suffered a shock setback from the College of Regulators failed
Eurex Clearings Emir approval has suffered a shock
setback after the College of Regulators failed to support a
risk assessment from Germanys derivatives regulator
BaFin, writes Joe Parsons.
Under EU derivative reforms within the European Market
Infrastructure Regulation, a clearing houses must be approved
by the College of European regulators, which includes national
regulators from member states.
Once a CCP is approved, European regulator ESMA has to
submit a draft of the clearing obligation within six
Eurex, the German derivatives exchange owned by Deutsche
Boerse, forecasted its clearing house would be approved by
April 2014, however yesterday it was informed that its
application for Emir approval had not been unanimously agreed
by the College of Regulators.
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