Esma official slams CFTC margin rules

European commission
EC does not recognise US rules on CCPs as equivalent to its own

A European regulator has questioned the motives of US authorities in adhering to a one-day gross margin requirement for domestic clearing houses.

Fabrizio Planta, team leader for post-trading at the European Securities and Markets Authority (Esma), claimed the US regime was driven by "competitive considerations, and not just by prudential considerations".

Planta's comments – made at a meeting of the Commodity Futures Trading Commission's (CFTC) Global Markets Advisory Committee (GMAC) on May 14

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