In granting equivalence to US clearing houses, the EU has opened the door to more competition in European business. And market players should be aware that the Commission’s equivalence decision towards UK CCPs is due to expire next year. The challenges we have faced in the past and those we are currently facing also have positive aspects for the clearing landscape.
The launch of the platinum coin gives me thus an opportunity to kick-start our “Saving for a Better Future” programme which, we hope, will help foster a better culture of savings for our population. We think our dodo has too easy a time, just sitting there in the logo of the Bank.