The European Securities and Markets Authority (ESMA) has decided to temporarily extend the application of its recognition decisions under Article 25 of the European Market Infrastructure Regulation (EMIR) for three UK-established central counterparties (CCPs), keeping their recognition and tiering determinations in place until 30 June 2028. The extension follows the European Commission’s adoption on 30 January 2025 of a new equivalence decision for the UK CCP regulatory framework. ESMA prolonged the tiering determination and recognition decisions it adopted on 25 September 2020 for ICE Clear Europe Ltd and LCH Ltd (both Tier 2) and for LME Clear Ltd (Tier 1) to align with the expiry of the new equivalence decision. ESMA also signed a revised Memorandum of Understanding with the Bank of England as required by EMIR 3.
European Securities and Markets Authority 2025-03-17
European Securities and Markets Authority extends recognition of three UK central counterparties until 30 June 2028
The European Securities and Markets Authority (ESMA) has extended the recognition decisions for three UK central counterparties (CCPs) under the European Market Infrastructure Regulation (EMIR) until 30 June 2028. This follows the European Commission's new equivalence decision for the UK CCP regulatory framework. ESMA also updated its Memorandum of Understanding with the Bank of England as per EMIR 3 requirements.