European Commission vice president, Valdis Dombrovskis, said in London today that the EU plans to extend the temporary equivalence for UK CCPs.
AFME, FIA, ISDA and other trade groups have written to the European Commission seeking an extension to equivalence, due to expire in March 2020.
BlackRock, Goldman Sachs, Allianz, JP Morgan and Vanguard are among those raising concerns about CCPs, urging regulators to take action.
As UK and European regulators clash over post-Brexit share trading rules, it could spell further divergence for post-trade arrangements.
ESMA has been making plans to prepare for a ‘no-deal’ scenario ahead of Brexit, with disruption to clearing being one of the biggest concerns.
Decision on tightening of periodic auctions due in coming months as MiFID II loophole concerns linger
ESMA will publish its findings on periodic auctions in the coming months and will make a decision on whether to recommend changes to how they operate.
Economic benefit of using CCPs for repo trades should be weighed against need for increased margin, says OFR.