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MNI BRIEF: Brussels Gives Equivalence To U.S. CCPs

LONDON (MNI)

Central counterparties, or clearing houses, will be able to apply for recognition by European regulators after Brussels accepted an equivalence decision recognising the U.S. Securities and Exchange Commission regime as equivalent to EU rules, the Commission said Wednesday. Once accepted bt the European Securities and Markets Authority (ESMA), the CCPs will be able to offer clearing services across the EU.

"This decision is a significant first step in the process of recognising US CCPs registered with the US Securities and Exchange Commission in the European Union," said Mairead McGuinness, Commissioner responsible for Financial Services.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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