The European Securities and Markets Authority has opened a new consultation on rules for indirect clearing of over-the-counter and exchange traded derivatives. The regulator is hoping to reverse an inconsistent approach to the current requirements, which fall under two separate pieces of legislation. Esma chairman Steven Maijoor has written to Europe's Financial Stability Commissioner, Jonathan Hill, explaining the regulator's decision to exclude new rules for indirect clearing for exchange-traded derivatives from final regulatory technical standards for Mifid Ⅱ that were published on September 28.
展开▼
