Report released in advance of the EC legislation on CCP recovery and resolution
LCH.Clearnet, the British clearing house,
has said the current provisions for clearing houses putting
"skin-in-the-game" (SIG) under European Market Infrastructure
Regulation (Emir) are appropriate.
Under Emir, clearing houses like LCH must
provide a default provision (SIG) of 25 per cent of their
minimum capital requirement.
LCH, majority-owned by LSE Group, points
out that when European Securities and Markets Authority drew up
rules on central counterparty SIG, a 50 per cent provision was
considered to be excessive.
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