Spotlight on: Kay Swinburne, member of the European Parliament
On September 15, 2010, the European Commission (EC) adopted a landmark regulation on over-the-counter derivatives, central counterparties (CCPs) and trade repositories, also known as the European Market Infrastructure Regulation (Emir). When it comes into force, Emir will require large chunks of the OTC market to be cleared through CCPs and reported to trade repositories. Since September, the regulation has passed for consideration to the European Parliament and the Council of the European Union
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