Third-country CCPs plan to apply for ESMA approval

08/16/2013 | (subscription required)

At least 11 central counterparties from the U.S., Japan, Mexico and Singapore have said they will apply to the European Securities and Markets Authority for recognition as a third-country CCP. However, confusion remains. A list of CCP applicants has not been made public. Some CCPs say they don't think they need to apply to ESMA, while banks have warned that they will cut ties with clearinghouses that don't have the regulator's stamp of approval.

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