EU Lawmakers Reach Deal To Simplify Derivatives Rules
Law360, London (February 5, 2019, 7:31 PM GMT) -- European lawmakers and member states reached an agreement on Tuesday to reduce costs for derivatives traders and exempt the smallest financial counterparties from having to go through clearing, the European Commission announced.
The European Union's executive arm welcomed the move to update the European Market Infrastructure Regulation, which aims to simplify the huge trade in over-the-counter derivatives while protecting financial stability. The simpler and more proportionate EMIR is expected to save up to €2.6 billion ($3 billion) in operational costs and up to €6.9 billion in one-off costs to the market.
"The European Market Infrastructure Regulation is one of the key...
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