MiFID swaps deal reached for US platforms to avert rupture
European Commission, EU's executive arm, intends to smooth the start of MiFID II following agreement with US authorities to coordinate oversight of market
The European Union said banks and other traders in the bloc can use US platforms to comply with MiFID II restrictions on derivatives, as policy makers moved to prevent a rupture in the $542 trillion (€458 trillion) global market less than a month before the EU law kicks in.
The decision announced on Tuesday by the European Commission, the EU's executive arm, is intended to smooth the start of MiFID II and follows an agreement with US authorities to coordinate oversight of the market.
To keep reading
please sign up for free!
Already have an account? Sign in here.
Editor's Picks
Euro reform
—
22.06.2018
Eurozone finance ministers back new powers for ESM
Benefits
—
20.06.2018
Luxembourg refutes cross-border unemployment plan
Tax
—
20.06.2018
UK companies to face pre-Brexit tax bombshell from EU
