Law360, London (October 7, 2019, 4:42 PM BST) -- The European Union's markets watchdog has set out to amend regulations on trading derivatives products to make the bloc's clearing rules more consistent.
The European Securities and Markets Authority proposed changes to the 2018 Markets in Financial Instruments Regulation, or MiFIR, on Friday. The amendments aim to ensure that the regulatory regime will be aligned to the reformed European Market Infrastructure Regulation, known as the EMIR refit, which came into force in July.
That refit reduces costs for some traders by exempting smaller financial firms and pension schemes from having to clear their over-the-counter derivatives trades. But MiFIR's obligations don't yet...
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