EU lawmaker wants cost-benefit analysis of rejecting a CCP
Hübner says adaptation period may follow decision to deny recognition to non-EU clearing house
Any decision to deny recognition to a non-European Union clearing house must be based on a cost-benefit analysis, says a top member of the European Parliament, adding to suggestions from the other two EU decision-making bodies that strict criteria will govern any move to relocate euro clearing away from London.
Under June proposals from the European Commission, third-country central counterparties (CCPs) could be barred from servicing EU firms if they are deemed particularly systemically
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