EU sets out post-Brexit rules for derivatives clearers - draft EU document
LONDON, Nov 28 (Reuters) - Banks and other market participants in the European Union will have to prove to regulators that they are not overly-reliant on clearing houses in London for processing their derivatives transactions, an EU draft document seen by Reuters showed.
"It is appropriate to require financial counterparties and non-financial counterparties... to hold, directly or indirectly, accounts with a minimum level of activity" at clearing houses established in the EU, the draft said.
Reporting by Huw Jones
Editing by Gareth Jones
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