Newedge, the derivatives broker owned by Calyon and Société Générale, has expressed support for the European Commission’s planned legislation to reform the over-the-counter derivatives market, especially its drive to promote clearing and exchange trading.
In comments submitted to the EC’s Public Consultation on Derivatives and Market Infrastructures, Newedge urged the Commission to harmonise the broad parameters of its legislation with those in other jurisdictions, particularly the US.
Private initiatives on OTC clearing are already emerging in the...