ECB’s Russo speaks on CCP policy

Daniela Russo, Director General Payments & Market Infrastructure at the European Central Bank, talks about regulation affecting the operation of central counterparties for OTC derivatives transactions

Daniela Russo is Director General Payments and Market Infrastructure at the Frankfurt-based European Central Bank (ECB). She chairs or participates in several working groups or committees working in the field of payment and settlement systems, both at European and global level.

Russo says margin requirements and the financial resources of central counterparties (CCPs) are two areas where Dodd-Frank falls short of the European Market Infrastructure Regulation (Emir). Here, the US should be ready