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ESMA guidance on recognition of third country CCPs

The European Securities and Markets Authority (ESMA) has published guidance on how it will recognise third country central counterparties (CCPs).  This covers communication with ESMA to apply for recognition, timeframes for submission of applications and the assessment criteria.  The jurisdiction in which the CCP is established must have:

· Legal and supervisory arrangements equivalent with EMIR requirements; and

· Meet EU requirements for anti-money laundering and combatting of financing of terrorism.

Related link: http://www.esma.europa.eu/news/ESMA-publishes-practical-guidance-recognition-Third-Country-CCPs-ESMA?t=326&o=home

 

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