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ESMA recognises 10 Third-Country CCPs

ESMA has today recognised ten third-country CCPs as authorised to offer services and activities in the Union. Each CCP comes from four jurisdictions previously assessed as equivalent by the EC. The full list includes the classes of financial instruments covered by the recognition. A short summary follows:

  • Australia: ASX Clear (Futures) Pty Limited, ASX Clear Pty Limited
  • Hong Kong: Hong Kong Securities Clearing Company Limited, HKFE Clearing Corporation Limited, OTC Clearing Hong Kong Limited, The SEHK Options Clearing House Limited
  • Japan: Japan securities Clearing Corporation, Tokyo Financial Exchange
  • Singapore: Central Depositary (Pte) Limited, Singapore Exchange Derivatives Clearing

Although the names above are a welcome and significant addition to Europe’s clearing capacity, the framework will remain deeply compromised until the US is judged equivalent. Despite optimistic statements from both sides, most recently in CFTC Chairman Massad’s March 2015 speech, the 15 June 2015 deadline is looming larger.

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