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EU to Delay Disputed Rules on $59 Trillion Securities Market (1)

Nov. 25, 2021, 8:54 AM

The European Union has agreed to delay reforms governing the 53-trillion-euro ($59 trillion) settled securities market, following sustained resistance from regulators and traders.

Changes to so-called buy-in requirements, designed to guarantee compensation for counterparties if a deal turns sour and make trading safer, would have gone live in February. But following years of criticism that the regime could drive up costs and threaten liquidity, the European Parliament and the Council of the European Union agreed on Wednesday to a postponement.

Mairead McGuinness, the EU’s financial services chief, confirmed the decision in a tweet.

Read More: EU in Talks to ...