Friday September 5 2014
News Source: Global Exchanges
Focus: Trading Rules
Type: General
Country: European Union
Link: http://www.esma.europa.eu/system/files/2014-1133_en.pdf
The European Securities and Markets Authority (ESMA) has published guidelines and recommendations regarding the implementation of CPSS-IOSCO Principles for Financial Market Infrastructure in respect of Central Counterparties.
The Guidelines apply to competent authorities designated under Article 22 of EMIR for carrying out the duties resulting from EMIR for the authorisation and supervision of Central Counterparties.
This assessment involves a detailed review of the EU’s regulatory framework to ascertain whether it establishes requirements which are consistent with each of the 22 ‘Principles’ and 106 ‘Key Considerations’ applicable to CCPs. For each of the Principles the EU will be graded as either: consistent, broadly consistent, partly consistent or not consistent.
Click on the above link for further details.