Banks Eye Victory on Derivatives in EU Trading-Revamp Delay
- Banks press for trading exemption for packages transactions
- Change to MiFID II would apply to pre-trade transparency rules
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Banks and asset managers are poised to win an exemption in rules for trading derivatives from European lawmakers, who already said they would give them a one-year delay of new financial regulations.
The exemption is in an amendment to legislation delaying the wide-ranging MiFID II overhaul of financial regulations. That could exclude a potentially large portion of the derivatives markets from requirements designed to increase transparency and price competition on platforms before trades are completed.