Asia Pacific: Emir: Asian OTC’s latest threat

Author: | Published: 10 Jul 2013

For the last 12 months, Asian market participants have voiced their opinions – mostly negative – about the cross-border reach of the US Commodity and Futures Trading Commission's (CFTC) plan to regulate the over-the-counter (OTC) derivatives market. Now, however, the extraterritorial provisions of the European Market Infrastructure Regulation (Emir) suddenly seem much more threatening.

While the CFTC's substituted compliance proposal advocates a firm-by-firm approach, Emir instead looks to the equivalency...