VIDEO | With the discussion around the European Market Infrastructure Regulation (EMIR 3.0) still ongoing, clearing houses have to grapple with significant potential changes. At PostTrade 360° Copenhagen, we invited a group of experts to share how the industry could deal with the changes in a panel session titled “How the clearing market is developing, in Denmark and beyond”.
The session was sponsored by SIX, Cboe Clear, LSEG, and Eurex.
EMIR 3.0 has been a contentious topic in the industry, but Marco Tenten, Business Development Manager – Director at Cboe Clear thinks that there are positives to the proposal. “I think a regulatory push to drive interoperability across Europe would be a benefit to the market,” he says.
Michael Gort, however, believes that the push should come from a different direction. The Head of Product Development Clearing at SIX says, “I don’t think we should wait for regulation to come in to push for more openness. The most powerful tool we have is the market’s opinion. If the big participants at national exchanges push for this, I think it’s more likely to change.”
For market participants invested in the outcome of the proposal, an important step is to make your voices heard. Joanne Donaghey, Post Trade Sales Director at LSEG advises, “The discussions are stil oepn and active… If you have a view, now is the time to use your voice. If you have a view on shaping the outcome, it’s important to put forward that view to the right people.”
The panellists were:
Isabelle Blanche, Head of FIC Sales, Eurex,
Joanne Donaghey, Post Trade Sales Director, LSEG,
Michael Gort, Head Product Development Clearing, SIX, and
Marco Tenten, Business Development Manager, Director, Cboe Clear, moderated by
Gabriel Vimberg, Investor Services, SEB
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