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The fight over clearing euro derivatives

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  • Lannoo, Karel

Abstract

The fight over City business has reached dramatic proportions in a very arcane domain, derivatives clearing. The European Commission has proposed to bring all third-country business conducted in euro under the direct supervision of the European Securities and Markets Authority (ESMA), which has infuriated the UK and the US. With Brexit looming, a huge problem is the possible non-recognition of the UK�s clearing infrastructures, and the related derivatives contracts, which would require costly duplication of effort and a massive migration to EU-27 entities.

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  • Lannoo, Karel, 2018. "The fight over clearing euro derivatives," ECMI Papers 13518, Centre for European Policy Studies.
    • Handle: RePEc:eps:ecmiwp:13518
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    File URL: https://www.ceps.eu/system/files/KL_EuroDerivativesClearingFight.pdf
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