ESMA to recognise three UK CCPS from 1 January 2021

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today announced that the three central counterparties (CCPs) established in the United Kingdom (UK) – ICE Clear Europe Limited, LCH Limited, and LME Clear Limited – will be recognised as third country CCPs (TC-CCPs) eligible to provide their services in the EU, after the end of the transition period following the withdrawal of the UK from the EU on 31 December 2020.

On 21 September 2020, the Delegated Acts on tiering, comparable compliance and fees under Regulation (EU) 648/2012 (EMIR), were published in the Official Journal. The Delegated Acts set out the new regulatory and supervisory regime for third-country CCPs (TC-CCPs), including the details for...