The dates have been welcomed but there remain concerns about front-loading
Market experts welcomed the decision on
Tuesday that mandatory clearing of certain swaps will start in
June next year but warned that timing for front-loading
requirements may present challenges to some participants.
The rules over central clearing of
interest rate swaps will now come into effect on June 21 2016
for the firms deemed as falling into 'Category 1,’
typically the largest dealing firms.
Managing director, head of execution and
clearing services at Commerzbank, Eugene Stanfield on Tuesday
welcomed the news. "The market needed this; these are the final
dates and this gives the industry clarity over what they need
to do, and by when. It is positive news," he told FOW.
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