Exclusive: Euro u-turn on OTC clearing revealed

Author: Danielle Myles | Published: 15 Apr 2011

The European Commission has the final authority to decide which over-the-counter (OTC) derivatives are mandatorily clearable, IFLR can reveal. The powers, will not lie with the European Securities and Markets Commission (Esma) as originally proposed.

Fabrizio Planta, a senior post trading officer at Esma, told IFLR that the agency will still prepare draft technical standards, but the Commission must endorse those standards before the clearing obligation is...