Brussels, 15/03/2016 (Agence Europe) - On Tuesday 15 March, the European Commission adopted an equivalency decision regarding the American prudential rules governing the activities of central counterparty (CCP) clearinghouses for derivative financial products.
This decision is based on the agreement reached on 10 February of this year, following three years of discussions, between the Commission and the American Commodity Futures Trading Commission (CFTC) (see EUROPE 11487). It will allow the European Securities and Markets Authority (ESMA) officially to authorise American central counterparties to offer their services to European investors.
The European Commission welcomes the forthcoming equivalency decision on the part of the CFTC, which will allow European CCPs to offer their services in the United States more easily, said the Commissioner for Financial Services, Jonathan Hill, in a press release.
In October 2014, the Commission recognised the equivalency with regard to the 'EMIR' Regulation (648/2012) of the prudential rules governing the activities of CCPs in Australia, Hong Kong, Japan and Singapore (see EUROPE 11188). (Original version in French by Elodie Lamer)