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Lexology PRO | European Union | 3 Feb 2023
Commission’s EMIR 3.0 plans “harmful to capital markets”, ISDA says
ISDA and three other industry bodies have told the European Commission its “EMIR 3.0” plans – including a requirement for an active EU-based CCP account from firms subject to the EU clearing obligation – will make EU firms less competitive.
Lexology PRO | European Union | 24 Nov 2022
New CCP guidelines mark EU’s post-Brexit fight for clearing competitiveness
The EU’s securities regulator has finalised its guidelines for resolution regimes for EU-based clearing houses, as the European Commission prepares a reform package aimed at boosting its competitiveness in the clearing space.
Aluko & Oyebode | Nigeria | 24 May 2022
Central clearing counterparties in Nigerian financial markets
In 2021, the Securities and Exchange Commission (SEC) registered two CCPs in the Nigerian capital markets, FMDQ Clear Limited and NG Clearing Limited. FMDQ Clear Limited's focus is clearing foreign exchange and fixed income derivatives, while NG Clearing Limited's focus is clearing index and single stock futures. It is expected that these CCPs will play a pivotal role in ensuring safety and......
Katten Muchin Rosenman LLP | USA | 12 Apr 2019
FINRA Proposes Rule to Adopt the Remaining Legacy NASD and Incorporated NYSE Rules as FINRA Rules
On April 8, the Financial Industry Regulatory Authority filed with the Securities and Exchange Commission a proposed rule change to adopt the…
Travers Smith LLP | European Union, United Kingdom | 11 Apr 2019
EMIR 2.1 update
In July 2018 we circulated a client briefing note outlining the European Parliament's approval of a revised proposal to amend EMIR (also known as…
Nutter McClennen & Fish LLP | USA | 10 Apr 2019
Fintech in Brief: The Clearing House Announces Adoption of Business Principles for Operation of the RTP® Network
On March 28, 2019, the Supervisory Board of The Clearing House Payments Company L.L.C. (“TCH”) released its “Business Principles for the RTP®…
Katten Muchin Rosenman LLP | European Union, United Kingdom, USA | 29 Mar 2019
ESMA Publishes Statement on Preparations Regarding Clearing and Settlement for a No-Deal Brexit
On March 28, the European Securities and Markets Association (ESMA) published a statement updating market participants on its preparations for the…
Sidley Austin LLP | European Union, United Kingdom, USA | 13 Mar 2019
EMIR REFIT: Impact on Asset Managers
Key changes to the scope of EMIR which asset managers should be aware of as a result of EMIR REFIT are…
Hunton Andrews Kurth LLP | USA | 12 Mar 2019
Seeking Clarity in the Use of Blockchain Technology for Securities Trading
The Council of Institutional Investors (CII) and Templum, Inc. (Templum) each recently submitted comments to the SEC to call for the agency to embrace…
Katten Muchin Rosenman LLP | European Union, United Kingdom | 1 Feb 2019
Bank of England and FCA Provide Updates on Post-Brexit Market Infrastructure Transitional Arrangements and Applications
On January 24, the Bank of England updated its financial market infrastructure supervision websites with interim lists of entities and systems that…
