Derivative dealers have won a key concession in new clearing rules from the European Commission which should ensure that dealers and derivative trading platforms are free to choose clearing houses, according to the latest draft of the rules seen by Financial News.

The new rules, outlined under the European Market Infrastructure Legislation, aim to increase the robustness and transparency of the European over-the-counter derivatives market. An earlier amendment had sparked fears among dealers and derivative trading platforms that European exchanges would be able to monopolise derivatives clearing.