Supervisory colleges (supervisory boards comprised by members of, inter alia, various relevant supervisory authorities) are a significant element of the supervisory framework overseeing central counterparties (CCPs) which are clearing systems for certain OTC-derivatives. The English article explains the purpose of supervisory colleges for CCPs under a European regime, their underlying laws and regulations, their organization and duties. There is now one college for every one of the 18 CCPs domiciled in the European Union. Each college is chaired by the CCP's competent authority. In Germany, there are two colleges for central counterparties: one for the CCP Eurex Clearing AG (Eurex Clearing), which BaFin authorized in cooperation with the European college on 10 April 2014, and one for CCP European Commodity Clearing AG (ECC), authorized on 11 June 2014.
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