Shock EU expansion of clearing mandate may hook more funds
Last-minute change to Emir 3.0 would include cleared contracts in threshold calculation
A leaked compromise text from European Union trialogue negotiations reveals lawmakers are considering a significant expansion to the scope of rules requiring clearing of over-the-counter derivatives, potentially dragging smaller firms into mandatory clearing.
“It’s really there to try to scope in as many funds as possible and as many financial entities as possible,” says a European industry source. “These are funds that are clearing voluntarily that are going to be penalised for it.”
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