Isda AGM: Esma committed to G-20 clearing deadline, says Maijoor
New authority will conduct cost-benefit analysis to decide which derivatives should be cleared - but G-20 deadline is not negotiable, says Esma chair in first public speech
While European market supervisors have yet to identify which over-the-counter derivatives should be eligible for mandatory clearing and for trading on exchanges, the new European Securities and Markets Authority (Esma) is committed to the end-2012 deadline set by Group of 20 (G-20) governments for reform of financial markets, Esma chairman Steven Maijoor told the Isda AGM in Prague today, in his first public speech in the role.
Esma is one of the three new market supervisory authorities set up
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