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EMIR Update: Variation Margin; SSPEs

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By Phil Cody, Maedhbh Clancy, Aiden Small, Barry Sexton
| Lexology Verified
Following on from the European Commission's recent proposal to amend EMIR, the EU Council (in its most recent compromise text) has suggested taking most physically-settled FX forwards out the scope of EMIR's mandatory variation margin provisions, and not treating securitisation special purpose entities (SSPEs) as financial counterparties (FCs).
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