Geithner letter to Hungarian minister weighs in on Emir open access debate
Market participants believe US letter endorses a narrowing of Emir scope, but a Treasury official says the letter draws attention to gap in regulation
The US secretary of the Treasury, Timothy Geithner, has weighed in on the open access debate in the European market infrastructure regulation (Emir). Geithner recommended to the Hungarian minister of the national economy that the legislation should ensure central counterparties (CCPs) provide non-discriminatory clearing of swaps executed on unaffiliated exchanges and electronic trading platforms. Some market participants believe this recommendation endorses a narrowing in the scope of Emir to
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