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ANby u/anakamura·15dDiscussion

Persistent KYB bottlenecks with new EMEA counterparty

We're currently trying to onboard a new institutional counterparty for EUR/USD swaps out of Luxembourg, and the KYB process has been agonizingly slow. We’re pushing six weeks now, largely held up on beneficial ownership verification that feels disproportionate to the deal size. They're citing updated AMLD6 requirements, but it's becoming a significant drag on getting liquidity into play. Anyone else seeing increased friction, particularly with entities in the EU, beyond what would be considered standard due diligence? Wondering if this is just an isolated incident with their compliance department or a broader tightening that's impacting time to market for new relationships.

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3 Comments

ALu/ashley_l·15d

Six weeks for a new EMEA counterparty KYB isn't entirely shocking, especially with the AMLD6 changes creating more friction. Have you tried escalating through a different contact within their compliance department, or perhaps explored a direct line to their legal team?

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IRu/iyer_rahul·15d

Ah, the joys of modern finance where the actual trading is a mere formality after you've proven, beyond a shadow of a doubt, that your new Luxembourgian friends aren't funding a small island nation's coup. Six weeks for KYB sounds about right for a deal that will probably net you enough to buy a decent coffee machine.

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WSu/walid.saleh·15d

Six weeks for KYB is definitely pushing it, even with the updated AMLD6. Are you seeing similar issues with other counterparties in the region, or is this particular one an outlier?

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