Judgement still leaves a degree of uncertainty surrounding derivatives
European trade body FIA Europe has welcomed
Wednesday’s judgement from the EU court of Justice
annulling European Central Bank’s (ECB) clearing
Early on Tuesday, the European court ruled
the ECB’s rules requiring clearing houses dealing
in euro denominated products to be based in the Eurozone, were
invalid because the regulation of clearing houses lay out side
the bank’s remit.
Simon Puleston Jones, CEO of FIA Europe, said that although the
judgment was positive there was still a degree of uncertainty
surrounding the derivatives settlement systems.
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