Feb. 17 (Bloomberg) -- The European Securities and Markets Authority published a discussion paper on draft technical standards for clearing houses, trade repositories and trading in over-the-counter derivatives.
The agency is seeking views on the standards until March 19, Paris-based ESMA said in an e-mailed statement yesterday. It will organize a public hearing on March 6. The measures would add detail to draft legislation to regulate OTC derivatives that was approved this month by EU officials and lawmakers, ESMA said.
Global regulators have sought tougher rules for OTC derivatives since the collapse in 2008 of Lehman Brothers Holdings Inc. and the rescue of American International Group Inc., two of the largest traders in credit-default swaps. Lawmakers have said that clearing firms should also face tougher regulation because a crisis at one of them could threaten the global financial system.
ESMA this week also said it is seeking opinions until March 9 on draft rules for short selling and trading in credit-default swaps. It will hold a hearing on the measures on Feb. 29
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