Pooled funds in clearing limbo

Pension funds will not have to clear in Europe until at least mid-2015, but what about the vehicles some use to scale up their hedging transactions? As things stand, lawyers are giving different answers – and the industry wants regulators to clarify the issue. Cécile Sourbes reports

richard-metcalfe
Richard Metcalfe

Almost two years after pension funds were granted an exemption from Europe's clearing rules, the sector still does not know whether that includes the pooled vehicles used by funds to scale up their hedging programmes. The answer is expected to come in the first quarter of 2014 but, when it arrives, it is likely to be a mix of good and bad news.

The good news: many in the industry, lawyers and funds alike, expect the safe harbour to cover some of the different legal forms that pooled funds take

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Switching CCP – How and why?

As uncertainty surrounding Brexit continues and the impacts of Covid-19-driven market volatility are analysed, it is essential for banks and their end-users to understand their clearing options, and how they can achieve greater capital and cross…

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here