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EU throws down gauntlet to U.S. over derivatives 

June 27, 2014
Huw Jones, Reuters

The European Union said it will help build a seamless global market in financial derivatives by accepting rules used in five countries, adding the United States would get the green light too if it showed flexibility.

After the 2007-09 financial crisis in which derivatives like credit default swaps played a key part in creating uncertainty, countries across the world have introduced rules to make the market more transparent and safer.

Market participants like clearing houses, third parties who help complete trades safely, want to avoid the costs of having to comply with multiple jurisdictions as well as their home country rules.

Read More: Reuters

 
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