The European Commission has announced that it has determined five countries to have the  changes equivalent regulatory regimes for central counterparties (CCPs) as the EU, namely Canada, Mexico, South Africa, Switzerland and Republic of Korea. The decisions follow previous determinations of equivalence made in October 2014 for four other countries: Australia, Singapore, Japan and Hong Kong. The Commission explains that CCPs in these non-EU countries will be able to obtain recognition in the EU. Market participants will be able to use them to clear standardised OTC derivative trades as required by EMIR, while the CCPs will remain subject solely to the regulation and supervision of their home jurisdictions.