End-users prep for EMIR clearing

摘要

European swaps users are signing up to clearing arrangements well ahead of a regulatory mandate to shift over-the-counter derivatives into central counterparties, in a bid to avoid the kind of last-minute scramble that was witnessed among US firms in mid-2013. The CFTC's phased-in approach helped to smooth the transition for thousands of clients clearing swaps for the first time last year, but this did not prevent an eleventh-hour rush from many end-users to get the necessary documentation in place.