European Securities Markets Authority and Open Access

clearing house: The section introduces so-called open access, meaning a market user who trades on one exchange is allowed to clear that trade at a clearing house or central counterparty owned by someone else, according to Euro News. The European Securities and Markets Authority regulator said open access to exchange-traded derivatives does not create undue risks to market stability and should not be temporarily excluded. New trading rules known as MiFID II come into force in January 2018 and require the bloc securities watchdog to say whether derivatives traded on exchanges should be temporarily exempt from a key section aimed at promoting competition. It marks a victory for the LSE and its clearing house LCH. Clearnet, along with ICAP and Nasdaq, who wrote to the ESMA in March last year asking it to back open access for exchange-traded derivatives. Strengthening competition and choice between venues and CCPs is an important step to further the integration of the EU capital markets, ESMA Chairman Steven Maijoor said in a statement. Currently market participants who trade derivatives on the Eurex platform owned by Deutsche Boerse are effectively obliged to clear using its in-house Eurex Clearing platform. (news.financializer.com). As reported in the news.