Emir futures margin rules create 'regulatory arbitrage'
Market participants warn higher margin requirements for commodity futures and options in the European Union (EU) could have the unwanted effect of creating regulatory arbitrage”, pushing the continent's commodity traders to move their activities to the US.
On December 19 last year, the European Commission adopted technical standards produced by the Paris-based European Securities and Markets Authority (Esma), which seek to implement parts of the European Market Infrastructure Regulation (Emir)
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