Dealers ask Esma to bless Lsoc-based clearing – Risk.net
Tom Osborn at Risk covers the continued push by dealers to open the door to an ISA model which allows for a single collateral account (rather than one per ISA), keeping operations simpler and cheaper for the Clearing Members, and ultimately the Clients of CCPs:
"No-one wants to do something that would be frowned upon by Esma," says one lobbyist. "This was an exploratory meeting to gauge Esma's stance. This is the beginning of a more serious phase of dialogue. What we're asking Esma is, if we come up with a more economically viable model that offers a comparable level of protection to an individually segregated account, can that be offered to clients specifically as an alternative to full segregation, rather than just another model alongside it?"