FIN.

CCPs deemed equivalence and recognition decisions extended by ESMA and Commission

In the light of the impending putative date for the UK to leave the EU, potentially on the basis of a ‘hard Brexit’, the European securities regulator and the Commission have extended the temporary recognition of UK based CCPs.

This measure was taken to ensure the facilitation of derivative transactions clearing can continue without jeopardy to market stability.  The new extension will expire one year after the UK exits the EU.

Jonny Williams

Jonny Williams