Holland Clearing House (HCH) has been authorised as the second Dutch CCP under EMIR, becoming the 15th CCP to date. HCH acts as the clearer for TOM MTF . As always, the full list is available on the ESMA public register.

ISDA has joined the swelling chorus of the concerned about CCPs, issuing “Principles for CCP Recovery”, a short document outlining five recovery and resolution issues. Its first page introduces a new financial acronym- PONV- “point of non-viability”[1], essentially the trigger point for resolution. ISDA’s chief executive Scott O’Malia said, “This is a debate about what […]

The Bank of England yesterday announced that it is widening access to its Sterling Monetary Framework to include broker-dealers and CCPs. “Specifically, from today, those broker-dealers deemed critical to the stability of the UK financial system (designated investment firms) and CCPs that operate in UK markets and are either authorised under EMIR or recognised by […]

OMIClear C.C., S.A. has been added today to ESMA’s list of registered central counterparties (CCPs) under the European Markets Infrastructure Regulation (EMIR). Under EMIR, EU-based CCPs must be registered and non-EU CCPs recognised in the European Union. The full list of registered CCPs can be found on ESMA’s website.

The EC yesterday adopted its first equivalence decisions for the jurisdictions of CCPs in: Australia, Hong Kong, Singapore and Japan. CCPs in these countries will now be able to achieve full recognition by the EU, retaining their qualifying status for reduced capital charges past the 15 December 2014 deadline. Congratulations are due to those countries’ […]

Risk magazine reports that the EC may extend the date by which ESMA must make a final decision on the equivalence of foreign jurisdictions for clearing under EMIR. A volte-face made all the more surprising by previous intransigence. Lacking such authorisation, CCPs will lose their interim “Qualifying” CCP status; a qualification that confers a capital […]

On 18 September 2014, the FSB published a report on “Jurisdictions’ ability to defer to each other’s OTC derivatives market regulatory regimes”. The FSB member jurisdictions were asked by the FSB Chairman to unlock the secrets of each other`s framework for making equivalency or comparability decisions on matters such as trade reporting, central clearing and […]

ESMA announced today that BME Clearing will be added to its list of registered central counterparties (CCPs) under EMIR, making it the first Spanish CCP and the thirteenth EMIR-authorised clearer to date.  A list of registered CCPs can be found on ESMA’s website.

The WSJ reported on Friday that the EC has privately indicated that it will recommend a two year extension to pension funds’ clearing exemption under EMIR. The clock on the three year exemption has been running since EMIR’s entry into force on 16 August 2012, if granted the extension will run until August 2017[1]. Pension […]