03.28.2022

ESMA Extends Recognition of UK CCPs

03.28.2022
AFME Warns on ‘Brexit’

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has announced to its decision to extend the application of the recognition decisions under Article 25 of EMIR (Regulation (EU) 648/2012) for the three CCPs established in the United Kingdom.

On 22 March 2022, ESMA amended the recognition decisions and tiering determination decisions in respect of the three recognised UK CCPs – ICE Clear Europe Ltd, LCH Ltd and LME Clear Ltd – that were adopted by ESMA on 25 September 2020, to align them with the Commission Implementing Decision (EU) 2022/174 adopted by the European Commission on 8 February 2022.

Accordingly, the application of the recognition decisions and tiering determination decisions in respect of ICE Clear Europe Ltd, LCH Ltd (as Tier 2 CCPs) and LME Clear Ltd (as a Tier 1 CCP) has been temporarily extended until 30 June 2025.

RELATED DOCUMENTS

Related articles

  1. Brexit Vote Could Affect Emerging Market Flows

    Review of trading desks found that incoming banks did not yet retain full control of their balance sheets.

  2. UK Launches Asset Management Review

    UK has a greater market share than pre-Brexit for on-venue execution of GBP interest rate swaps.

  3. The trade repository has been providing UK services since the first business day after Brexit on 4 Jan 2021.

  4. Brexit Muddles Future of UK-EU Linkage

    European firms could operate temporarily in the UK after Brexit while seeking full authorisation.

  5. Brexit Muddles Future of UK-EU Linkage

    The total value of UK financial services exports remained stable in 2020.