CFTC, ESMA eye summer CCP equivalence pact

摘要

US and European regulators have reiterated their commitment to achieving equivalence between their two respective central counterparty clearing regimes this summer. "We're confident that we will be able to disentangle this issue in a relatively short time frame," Verena Ross, executive director of the European Securities and Markets Authority told delegates at the FIA's IDX Derivatives Expo in London last week. But the gulf in stance on initial margin requirements at US and European CCPs is proving difficult to bridge.