EC finalises OTC rules, leaves key technical items to Esma
BRUSSELS – The European Commission formally published and adopted long-awaited legislation on clearing and reporting obligations for over-the-counter derivatives on Wednesday (September 15) – bringing further relief to corporate hedgers – but market observers say the most contentious issues remain unresolved.
“It’s even more high-level than we expected, and by draft legislative standards it isn’t terribly comprehensive. The EC has clearly listened to the feedback that has been given by the
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