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EU Demands Derivatives Clearing Reform to Reduce Reliance on UK

  • Part of measures aimed at boosting Europe’s capital markets
  • European Commission expected to outline the plans next month

The EU will require derivatives traders to use accounts at clearing houses in the bloc for some transactions, under plans aimed at boosting Europe’s capital markets.

Certain banks would need to clear a minimum amount of business using active accounts in EU-based clearing houses, according to an EU official speaking on condition of anonymity. The European Commission is expected to outline the measures next month.