CCPs in Japan, Mexico, Singapore and US to jump through Esma hoops
Eleven CCPs say they will apply to Esma for approval – sparing European members a capital hit – but Canada's CDCC has no plans to go through the process
Eleven central counterparties (CCPs) have told Risk they will apply to the European Securities and Markets Authority (Esma) by September 15 to be recognised as a third-country CCP – a vital step for their European members, with implications for the banks' ability to continue using the CCP and also the resulting capital requirements.
With some banks holding memberships at 30 or more clearing houses
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