Dealers ask Esma to bless Lsoc-based clearing
Industry wants to know whether an approach based on US standards will meet European requirements
Banks are seeking urgent guidance from regulators on whether a US-style approach to the protection of customer collateral will satisfy European requirements that clearing houses should offer individually segregated accounts, ahead of a September 15 deadline for central counterparties (CCPs) to file with the European Securities and Markets Authority (Esma) for reauthorisation.
The European Market Infrastructure Regulation (Emir) requires CCPs to offer a minimum of two different models to protect
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