Esma’s €4bn clearing limit sparks ire from energy firms – again
European watchdog backs rise in commodity clearing threshold from €3bn in new letter, but energy traders say it’s not enough
Europe’s markets regulator has renewed its recommendation to the European Commission to increase the commodity derivative clearing threshold by €1 billion ($970 million), but energy firms say the rise in the threshold is nowhere near enough.
In a letter to the EC published on September 22, the European Securities and Markets Authority for the second time backed an increase in the threshold to €4 billion after the commission asked Esma to reassess “the appropriateness” of its guidance in light
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