ESMA publishes technical standards on CCP authorisations, extensions and validations
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published its Final Reports on the Regulatory Technical Standards (RTS) on central counterparties’ (CCPs) authorisations, extensions of authorisation and model validations, following the review of the European Market Infrastructure Regulation (EMIR 3).
EMIR 3 introduces several measures to make EU clearing services and EU CCPs more efficient and competitive, notably by streamlining and shortening supervisory procedures for initial authorisations, extensions of authorisation and validations of changes to models and parameters.
The two sets of RTS specify:
- the conditions for extensions of authorisation and the list of required documents and information for applications by CCPs for initial authorisations and extensions thereof, and
- the conditions for validations of changes to CCPs’ models and parameters and the list of required documents and information for applications for validations of such changes.
ESMA conducted public consultations on the draft RTS in Q1 2025. The Final Reports consider the feedback received.
Next steps
The two sets of RTS will now be submitted to the European Commission for endorsement, following which they will be subject to scrutiny by the European Parliament and the Council.
Further information:
Cristina Bonillo Olivares
Senior Communications Officer
press@esma.europa.eu