EU foreign-clearinghouse law needs to be implemented pragmatically, and fast

18 October 2019 11:00pm
A controversial EU law to allow oversight of London and US-based clearinghouses has been finalized. Now capital-markets players across the Atlantic and English Channel hope regulators will move quickly, and pragmatically, to put it into operation.

Anything else could mean an economically damaging hiatus in access for a service whose success relies on scale and continuity, or a new front in the ongoing trans-Atlantic trade war.