Law360, London (February 7, 2020, 11:35 AM GMT) — Europe’s securities watchdog asked the European Commission on Friday to align the bloc’s regulations on trading derivatives products to make it clear for financial services companies whether they must follow clearing rules.
The European Securities and Markets Authority has proposed changes to the Markets in Financial Instruments Regulation, better known as MiFIR. The authority wants to make the rules consistent with the reformed European Market Infrastructure Regulation — the EMIR refit, which came into force in June 2019.
Those reforms cut costs for some traders by exempting smaller finance companies and pension schemes from having to clear their over-the-counter derivatives trades….
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