On March 8, EAPB, VÖB and the Representation of the State of Hessen to the EU will organize a panel debatte on "Euro-Clearing after Brexit" at the premises of the Representation of the State of Hessen at Rue Montoyer 21, 1000 Brussels.
The clearing of derivatives in Euro is amid the areas that will be impacted most by Brexit. The largest amount of OTC derivatives trading is currently being executed in London. Continental European providers in France and Germany have, up to now, reached only minor market shares. The trading volume of centrally cleared derivatives exceeds levels of 300 trillion US Dollars worldwide. As a reaction, the EU Commission published in June 2017 its proposal, which foresees a relocation of derivative transactions in Euro in the future, if the clearing house is considered to be particularly systemically relevant.
We would like to discuss with Members of the European Parliament, representatives of the European Commission, different clearing houses and public banks, which measures may be most suited to ensure a functioning clearing business after Brexit and take into consideration possible new approaches for an efficient supervision. How could possible compromises look like; what positions will the co-legislator decide on and how do market participants prepare themselves?
The event will start at 10:30 am and participants will have the opportunity to listen to the remarks and discuss their views with the following panelists:
Danuta Hübner, MEP
Rapporteur on EMIR 2
Patrick Pearson
Head of Unit, Financial Markets Infastructure, DG FISMA, European Commission
Giampiero Carlà
Senior Officer of Markets Department, European Securities and Markets Authority (ESMA)
Daniel Kapffer
COO, DekaBank Deutsche Girozentrale
Daniel Maguire
CEO, London Clearing House
Matthias Graulich
CSO, Eurex Clearing
You can register here: https://eu.hessen.de/EuroClearing
You can access the agenda here.
We are looking forward to an interesting discussion on potentials and challenges of Euro-Clearing after Brexit.