Industry fears Emir 3.0 fast model approval will cause delays
More model changes could be caught by proposed criteria for defining significance
Attempts to speed up European Union regulatory approvals of changes to models used by central counterparties could have the opposite effect, market participants are warning, by broadening the definition of changes deemed significant.
The latest version of the European Market Infrastructure Regulation (Emir 3.0) mandated the European Securities and Markets Authority (Esma) to draft a regulatory technical standard (RTS) that would for the first time set out criteria to distinguish between
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