Tim Reucroft
07-05-2010, 04:23 PM
The industry spent a fortune creating CSDs for everybody's benefit. The ECB is in the process of nationalising these in the interests of a greater Europe. No compensation will be paid.
The EU Commission now wants the industry to create Trade Repositories for OTC derivative transactions (much like the TIW in the USA). Why would anybody in their right mind spend a fortune on creating these only for the ECB to come along and nationalise them?
Good luck to Iberclear and Clearstream, they can clearly afford the risk.
The EU Commission now wants the industry to create Trade Repositories for OTC derivative transactions (much like the TIW in the USA). Why would anybody in their right mind spend a fortune on creating these only for the ECB to come along and nationalise them?
Good luck to Iberclear and Clearstream, they can clearly afford the risk.