EU expands market access for US erasers and derivatives exchanges According to Reuters

© Reuters. The pieces are seen in front of the US and EU flags shown in this illustration taken January 25, 2022. REUTERS / Dado Ruvic / Illustration

By Huw Jones

LONDON (Reuters) – The European Union on Monday said it had expanded access to US exchanges and clearing houses for investors in the bloc, a move contrary to its intentions. of Brussels on the closure of London rent payments by 2025.

The EU’s European Regulatory Commission says a number of US exchanges that trade derivatives and are regulated by the US Securities and Exchange Commission can now be used by investors from the EU.

It also expands EU market access for US clearing houses, also known as central partners or CCPs, to enable EU investors to settle US products. Such as mortgage-backed securities.

“These decisions are in the EU’s interest – we want our capital markets to be better integrated with other international markets,” EU financial services commissioner Mairead McGuinness said in a statement. .

“We look forward to continued good cooperation between EU institutions and agencies and the US Securities and Exchange Commission,” said McGuinness.

The bloc’s securities watchdog ESMA will carry out the necessary technical work to implement the decisions.

McGuinness has said that clearings in the UK, which has left the EU, will not be allowed to continue serving customers in the bloc after June 2025 under the same “equivalent” system she has granted to movers U.S. flat and exchange on Monday.

Brussels says it wants to end the bloc’s excessive reliance on London-based derivative erasers.

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