The Commission has published a note explaining the effects of the European Market Infrastructure Regulation (EMIR) on Central Counterparties (CCPs) established outside the EU. It looks at the CCPs that are subject to the EMIR recognition procedure, how it works and the benefits of recognition. Any non-EU CCP wanting recognition must apply to ESMA by 15 September 2013. (Source: Commission Explains EMIR for Non-EU CCPs)