EC derivatives consultation stops short of detail on corporate exemptions

The document tackles questions relating to the eligibility of derivatives contracts for clearing, the requirements for CCPs, interoperability between CCPs and reporting obligations for trade repositories.

The clearing obligations for non-financial firms are less clear, however. Corporate end-users have lobbied hard for exemptions since the EC first published a position paper on reform of the derivatives market last year, claiming any mandatory clearing requirement would require them to eat into