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Dodd Frank, EMIR, Mifid, Uncategorized

Progress on EU-US recognition

The European Commission and the CFTC moved closer to mutual recognition of rules, following a meeting held last week. The movement has been on two fronts:

  • Trading platform recognition, which when finalised will simplifying cross jurisdiction trading. The aim is to have recognition  in place in time for MiFID II.
  • An equivalence decision on the application of the uncleared margin rules(see here)  in order to avoid double regulation.

A speech made by Vice President  Valdis Dombrovskis of the European Commission can be found here. A press release from the CFTC can be found here. The agreement is described in more detail in this article on the Reuters web site, while an on the uncleared margin side of the agreement by Katten Muchin Rosenman LLP can be found here on the Lexology web site.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on energy and commodity regulation. He has more than 20 years of experience in energy and commodity trading, credit, risk and financial technology. He has delivered a series of trading, credit and risk solutions to a wide variety of oil majors, power and gas companies and investment banks. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.

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