The European Commission adopted a decision extending the equivalence regime for United Kingdom central counterparties (CCPs) for three years, through 30 June 2028, to support EU financial stability and provide continuity for EU market participants. The extension is intended to allow time for implementation of the European Market Infrastructure Regulation (EMIR 3), which includes measures aimed at improving the attractiveness and competitiveness of EU clearing markets and reducing the EU’s reliance on systemically important UK CCPs in the medium term. The decision will be published in the Official Journal of the EU soon after adoption, enter into force immediately, and apply from 1 July 2025.
European Commission 2025-01-31
European Commission extends equivalence for UK central counterparties until 30 June 2028
The European Commission has extended the equivalence regime for UK central counterparties (CCPs) by three years, until 30 June 2028, to maintain EU financial stability and continuity for market participants. This extension allows time for implementing the European Market Infrastructure Regulation (EMIR 3), which aims to enhance the competitiveness of EU clearing markets and reduce reliance on UK CCPs. The decision will be published in the Official Journal of the EU and take effect from 1 July 2025.