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ESMA Publishes Responses to CCP Interoperability Consultation

On 7 February 2013, the European Securities and Markets Authority (ESMA) published a list of the responses which it received to its 20 December 2012 consultation paper “Guidelines for establishing consistent, efficient and effective assessments of interoperability arrangements”.

Once finalised, the guidelines will seek to clarify obligations for National Competent Authorities in relation to their assessment of applications from CCPs to enter into interoperability arrangements. The guidelines are required by Article 54(4) of EMIR and were due to be published by ESMA no later than 31 December 2012.  However, ESMA chose to give priority to the other EMIR Regulatory Technical Standards.

The consultation period closed on 31 January 2013 and the final guidelines are due to be published by the end of Q1 2013.

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