Clearing Emir – ft trading room – markets – FT.com. (subscription required)

A video with Leonard Ng from Sidley Austin talking succinctly about the confusion surrounding the overlap in regulations between the US / EU, and in particular, how will a firm trading between the EU & US comply with two sets of rules which don’t yet recognise each other – as Leonard says, “you can’t clear a trade in two CCPs at once”.