Four sources say European Union national regulators are allowing banks to continue exempting over-the-counter derivative trades with UK pension funds from mandatory clearing requirements, despite UK funds technically losing the exemption on December 31.
“I believe various European banks have had regulatory clearance from their respective regulators to continue trading under this [exemption],” says a senior trader at a UK pension fund.
Two of the sources, including a regulatory expert at a
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.