ESMA publishes practical guidance for the recognition of Third Country CCPs Under EMIR

On 12 March 2013, ESMA published “Practical guidance for the recognition of Third Country CCPs by ESMA”.  It is a useful guide for any Third Country CCP seeking recognition under Article 25 of EMIR to provide clearing services in the EU, providing such information as:

• contact details via which ESMA is to be notified of an intention to submit an application;
• the fact that applications should be provided in triplicate (one original, one paper copy and one electronic copy);
• confirmation that ESMA’s working language is English; and
• the fact that applicants may need to be able to respond to requests for additional information from ESMA in as little as 3 working days.