The European Commission’s financial reforms head, Patrick Pearson, has urged the extension of the European Market Infrastructure Regulation (Emir) to listed, or on-exchange, derivatives, Financial Times reports. The U.K. Treasury has supported Pearson’s proposal. The regulations to reform derivatives and clearing markets are currently limited to over-the-counter (OTC) products. The proposal was put forward by Pearson to the Economic and Monetary Affairs Committee of the European Parliament.

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