Banks eye victory on derivatives in EU trading overhaul delay

London

BANKS and asset managers are poised to win an exemption in rules for trading derivatives from European lawmakers, who already said they would give them a one-year delay of new financial regulations.

The exemption is in an amendment to legislation delaying the wide-ranging MiFID II (Markets in Financial Instruments Directive) overhaul of financial regulations. That could exclude a potentially large portion of the derivatives markets from requirements designed to increase transparency and price competition on platforms before trades are completed.