BoE has made a statement on the equivalence of the future UK legal and supervisory framework for CCPs and CSDs, following a decision by the European Commission to make implementing acts that will allow UK CCPs and CSDs to be recognised by ESMA. The measures would take effect from 30 March 2019 in the event of a no-deal Brexit. ESMA said it plans to provide recognition in a timely manner, so long as the necessary conditions are met.
The UK had already put in place a temporary recognition regime for non-UK providers to continue to provide services in the UK.
Separately, ESMA noted that it has not received enough applications from third country trading venues for assessment for the purposes of post-trade transparency and position limits for it to be able to publish a comprehensive list of them and as a result investment firms do not have to make public the transactions they conclude on third country venues via APAs.