BME in talks with global banks over euro swaps clearing
SIX Group's Spanish CCP wants to establish itself as an alternative venue for onshore clearing by 2025
Several large international banks are in talks with BME Clearing about joining the Madrid-based central counterparty’s (CCP) euro swaps clearing service.
The move comes as European regulators thrash out rules that could push trillions of euros of clearing activity away from London-based LCH to clearing houses in the European Union. EU firms are expected to begin clearing a yet-to-be-determined minimum amount of their euro swaps at EU CCPs ahead of a June 2025 deadline, when the European
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