See “CFTC Issues No Action Relief for EU-Based DCOs Authorized to Operate in EU” in the CFTC section.
On March 15, the European Commission (the Commission) adopted an equivalence decision in regards to US central counterparties (CCPs). The equivalence decision will allow CCPs authorized and registered with the Commodity Futures Trading Commission to apply for recognition under the European Market Infrastructure Regulation (EMIR) to provide clearing services to EU clearing members or trading venues.
The equivalence decision follows a recent announcement by the CFTC and the Commission in February 2016 that they had reached an agreement for a harmonised approach to CCPs.
For further background, see the Corporate & Financial Weekly Digest edition of February 12, 2016.
A copy of the Commission’s equivalence decision is available here.
A copy of the Commission’s press release is available here.