Trading firms fearful over European deadline to see foreign clearers
Failure to solve the prospect of punitive capital charges
for European firms with positions at foreign clearing houses
before the December 15 deadline would have "unthinkable
consequences" and lead to significant market disruption,
brokers have warned.
Under the Capital Requirements Regulation, which came into
force this year, EU institutions that are members of foreign
central counterparties (CCPs) not recognised as a Qualified CCP
under Article 25 of European Markets Infrastructure Regulation
will face punitive capital requirements against those
Faced with a "Clearing Cliff", the European Commission
has until December 15 to recognise foreign clearinghouses as
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