Third country firms and MiFID II: Trading obligation

A number of provisions in MiFID II and MiFIR (which, from now refer to jointly as “MiFID II”), apply to non-EU firms (referred to in EU regulatory parlance as third country firms) in different ways, depending on a number of circumstances. Today we will talk about how...

CFTC delays implementation of OTC collateral rules

The US Commodity Futures Trading Commission issued on Monday no-action letter 17-11, granting swap dealers time-limited relief from compliance with the obligation to post and collect variation margin from their OTC swaps counterparties. Note however that no-action...

The EU launches CDS clearing obligation

The European Commission published on 19 April 2016 the regulatory technical supplement for credit default swaps (“CDS”), setting out the types of transaction subject to the clearing obligation, as well as the entry into force of the clearing obligation (and...