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Industry welcomes cross-border discussions on CCPs 

December 12, 2013
Simon Osborne, The Trade News

Inter-region dialogue is vital to ensuring cross-border derivatives regulation does not stifle Asian markets, according to industry leaders.

Recently, the Asia Pacific Regional Committee (APRC) of the International Organisation of Securities Commissions (IOSCO) wrote to the European Union, calling on legislators and regulators to give Asian clearing counterparties some breathing space.

The letter discussed equivalence to European market infrastructure regulation (EMIR) and said that the European Securities and Markets Authority's (ESMA) equivalence judgements may not be fully appropriate to Asian CCPs, due to the nature of their markets. It said that requirements and standards relevant for an EU-based CCP may not be relevant for Asian CCPs, due to different market conditions, products and the fact that these CCPs mainly serve domestic market participants.

Read more: The Trade News

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