Europe: A fine mess

Author: | Published: 11 Jul 2011
The EC’s ultimate OTC goal

On July 4, European lawmakers admitted that new EU rules for over-the-counter (OTC) derivatives would take longer to pass than first thought. A solution is not expected until after the summer now.

The European Parliament announced that European Market Infrastructure Regulation (Emir), which contains similar provisions on clearing of OTC derivatives to Dodd-Frank, would need closer attention before being forced upon the market.

This is a good decision. The EC is in a mess...