Industry Urges EU To Extend Relief For Cross-Border Trades

By Najiyya Budaly (November 24, 2021, 11:54 AM GMT) -- The financial sector has called on the European Union to extend an exemption that protects groups with entities operating outside the bloc from costly clearing rules under its rulebook for derivatives trading.

The International Swaps and Derivatives Association and five other trade bodies urged the European Commission and the European Supervisory Authorities on Tuesday to extend a temporary derogation from clearing and margining requirements for intragroup transactions.

Transactions between EU companies in a financial group are exempt from costly clearing rules under the European Market Infrastructure Regulation. But derivatives trades that cross out of the bloc must be cleared by central...

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