Terry Duffy, executive chairman CME, said CFTC unlikely to alter margin model
Terry Duffy, executive
chairman of CME Group, expects European and US regulators to
settle their long-running clearing equivalence row by October
despite a reluctance on the part of US regulators to alter
their superior margin model.
Speaking on an earnings call on Thursday,
Duffy told investors: "I do believe that equivalence will get
done and it will be done probably sometime in September/October
recognises it’s a competitive issue and I
don’t see him backing away from what we have here
in the United States as the stronger regime, being one day
gross for client and one day net for house," he
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