Central Banking

US dealers wade into European CCP relocation debate

All at sea: dealers might have to split trading and client coverage across two entities

US market participants are stepping up their criticism of European plans to tighten the supervision of clearing in euro-denominated swaps, following a legislative proposal by the European Commission earlier in June that would give the European Central Bank greater decision-making powers on the location of central counterparties (CCPs).

A hearing of the Commodity Futures Trading Commission (CFTC) market risk advisory committee on June 21 was the venue for a litany of complaints about the

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