The European Securities and Markets Authority (ESMA) has published its advice
to the European Commission on the equivalence of the regulatory regimes for over-the-counter (OTC) derivatives clearing, central counterparties (CCPs), and trade
repositories (TR) of non-EU countries with the European Markets Infrastructure
Regulation (EMIR).  ESMA's advice is based on a factual assessment of the
rules of each jurisdiction against EMIR requirements and has also taken into
account pending regulations in several jurisdictions that may impact the
equivalence assessment.  ESMA considers third-country regimes equivalent
where the legal provisions and the level of supervision and enforcement is
similar to that of EMIR.

ESMA assessed the equivalence of the regulatory regimes of Australia, Hong Kong,
Japan, Singapore, Switzerland and the US. 

ESMA found the regulatory regimes of Australia and Switzerland for CCPs equivalent
to EU rules. 

Conditional equivalence is proposed for the following regimes:

• Hong Kong, Japan, Singapore, and the US for CCPs;
• Japan and the US for central clearing, requirements for non-financial counterparties and risk mitigation techniques for uncleared trades; and
• the US for TRs.

For Australia, Canada, Hong Kong, India, Singapore, South Korea and Switzerland,
ESMA will be delivering its advice on the other areas by 1 October 2013. 

CCPs from third countries that want to continue to offer clearing services directly
to EU clearing members must apply for ESMA recognition by 15 September 2013.

 Related Link:

http://www.esma.europa.eu/Press%20Release%20-%20ESMA%20advises%20Commission%20on%20equivalence%20of%20non-European%20derivatives%20rules?t=326&o=home