European regulatory body has cut front-loading for buy-side firms by six months
The European Securities and Markets Authority (Esma) has
proposed a lighter front-loading requirement for buy-side firms
following criticism of its initial plan.
Esma originally proposed an 18 month timeline for buy side
firms to front load their interest rate swaps but this has been
cut to 12 months for financial counterparties and alternative
Fund managers that have a low level of derivatives activity
have an additional six months to prepare for the clearing
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