April 3, 2019 / 10:09 AM / 7 months ago

EU markets watchdog launches stress test of clearing houses

LONDON, April 3 (Reuters) - The European Union’s markets watchdog launched its third stress test of clearing houses on Wednesday, saying it was adding a new requirement and that British clearers won’t take part if there is a no-deal Brexit.

The European Securities and Markets Authority (ESMA) said the new component will assess the impact of liquidation costs for large chunks of financial contracts in a simulated crisis.

“The exercise will cover all authorised EU central counterparties (CCPs), including the three UK CCPs, unless a no-deal Brexit takes place,” ESMA said in a statement. (Reporting by Huw Jones, editing by Louise Heavens)

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