As sanctions against Russia increase by the day, it becomes evident that Europe should seize the moment to reshuffle the balance of power and foster its position as a global leader
While swaps volumes have risen to an all-time high in SOFR, many sources doubt the efficiency of the ‘no new Libor’ recommendation as the benchmark continues to dominate the US market
With a fresh consultation on how to increase Europe’s appeal for clearing just published, the countdown to the end of equivalence in 2025 has begun, and meaningful change is needed
While swaps volumes have risen to an all-time high in SOFR, many sources doubt the efficiency of ‘no new Libor’ as the benchmark continues to dominate the US market
The extension of clearing equivalence for UK CCPs until June 2025 has been welcomed by many, but others have criticised the Commission’s lack of long-term measures
