Last-ditch accord leads European Parliament to approve EMIR

At the last minute, the European Commission crafted a compromise on over-the-counter derivatives rules, turning an expected rejection into approval by the European Parliament. The deal means nonfinancial users of swaps, which typically use them for hedging, will be subject to the law eventually, instead of right away. Official sign-off on the European Market Infrastructure Regulation is set for Feb. 19.

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