EU Council disputes Esma’s power to determine clearing eligibility

patrick-pearson

Debate has broken out in Brussels over whether the newly created European Securities and Markets Authority (Esma) has the legal authority to determine the eligibility for mandatory clearing of different classes of over-the-counter derivatives, including foreign exchange.

In article 4 of the regulation on OTC derivatives, central counterparties and trade repositories adopted by the European Commission (EC) in September 2010, the EC suggested Esma should be authorised to determine, on the basis of

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: