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Derivatives central clearing dates finally set for Europe 

August 11, 2015

Jon Watkins, The Trade

European regulators have finally quashed the uncertainty surrounding the implementation date of mandatory central clearing rules for interest rate derivatives by fully approving the new rules.

The European Commission has now adopted the rules which make it mandatory for certain interest rate swaps to be cleared through central counterparties such as LCH.Clearnet and Eurex Clearing.

Mandatory central clearing will now take effect in Europe from April 2016. Buy-side firms will have six months from that date to comply with the new rules.

The new regulations stem from the G20 summit in Pittsburgh 2009, but have taken much longer than planned to come to fruition.

The US rolled its own central clearing rules out in 2013, while the European Securities and Markets Authority has been fine-tuning its own regulations and going back and forward with the European Commission.

Read more: The Trade

 
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