On Thursday 30 January, the European Commission adopted a decision extending by three years - until the end of June 2028 - the decision establishing the equivalence of prudential rules governing central counterparties (CCPs) in force in the European Union and the United Kingdom (see EUROPE 13565/17).
With this extension of equivalence for UK CCPs, “we are avoiding short-term risks” for EU financial players, said European Commissioner for Financial Services and the Savings and Investments Union Maria Luis Albuquerque in a press release. Expressing the EU’s determination to reduce its “over-reliance” on UK central counterparties, she said that the extension granted would allow the measures in the EMIR 3 regulation governing market infrastructures to “start taking effect” in order to make European CCPs more competitive and attractive.
See the European Commission decision applicable from 1 July 2025: https://aeur.eu/f/fb3 (Original version in French by Mathieu Bion)