US and Europe are trying to establish mutual recognition of swaps rules
Timothy Massad, chairman for the US derivatives watchdog,
has said he is confident regulators on both sides of the
Atlantic are moving in the right direction for the recognition
of duel registered clearinghouses.
Since commencing his new role as chief of the Commodity
Futures Trading Commission (CFTC), engaging with European
regulators over cross-border rules and equivalency for global
clearinghouses has been at the top of his agenda.
Speaking at an open meeting on Wednesday, Massad said: "We
are working now to finalise the remaining steps necessary to
provide effective equivalent system for the recognition of swap
clearinghouses in Europe.
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