Financial Services Financial Services

EU clearing ‘active account’ rule not intended to be protectionist, top finance official says

A proposed requirement for EU clearing participants to hold an “active account” for a portion of certain derivatives contracts is not designed to be protectionist but to achieve a bloc-wide capital markets union, a senior European Commission official has said. 
Ugo Bassi, director of financial markets in the EU executive’s

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Fiona Maxwell

Senior Correspondent

Fiona Maxwell is a financial services senior correspondent at MLex in London. She began her career as a reporter for, writing about EU post-crisis regulation, and later worked for POLITICO in Brussels, covering the intersect between financial policy and politics. Prior to joining MLex, Fiona worked at the Bank of England as a policy adviser in the prudential policy directorate.

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