Pannel at IDX conference discussed the future role of clearing houses
Open access rules under Mifid II might result in a
fragmentation of liquidity in the derivatives space, warned a
panel of experts.
"There is a lack of understanding of what
is the problem. The regulator wants to reduce cost and improve
competition with these open access rules but if liquidity is
fragmented, the cost will only rise. You could argue that the
rule does the opposite of what the regulator intended," said
Kim Taylor, president of global operations in technology and
risk at CME Group.
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