Exchange trade execution could be delayed by up to 60 seconds under Mifid II
The European Securities and Markets
Authority (Esma) has raised concerns over plans to exempt from
mandatory clearing internal transactions made by non-European
Esma published on Thursday an opinion on
the draft regulatory technical standards (RTS) referring to the
clearing obligation for interest rate swaps in response to the
European Commission’s (EC) plan to endorse the
draft RTS submitted by the body on October 1 2014.
The Authority said it agreed with the
objectives of the changes the European Commission is set to
implement but has taken issue with the EC’s plan
to exempt non-EU intra-group transactions, stating that this is
not appropriate from a legal perspective.
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