European pension schemes have been excluded from new derivatives trading rules, Financial News reports. Pension funds will get a three year exemption as per the latest draft of the European Market Infrastructure Regulation (Emir), issued by the European Commission on April 29. The rules will require most deals to be cleared through a central counterparty, while assets will need to be pledged as collateral. European pension schemes may be granted a permanent exemption from the rules, if in December 2015, the commission and Europe’s new watchdogs, including the European Securities and Market Authority, find it necessary to either end, extend temporarily, extend permanently or amend the transitional provision.
Click here for the story from Financial News.
