ESMA and CFTC to cooperate on CCPs
06/06/2016
The European Securities and Markets Authority (ESMA) and the US Commodity Futures Trading Commission (CFTC) have established a memorandum of understanding (MoU) under the European Markets Infrastructure Regulation (EMIR).
The MoU establishes cooperation arrangements, including the exchange of information, regarding CCPs which are established in US and authorised or recognised by the CFTC and which have applied for EU recognition under EMIR.
EMIR provides for cooperation arrangements between ESMA and the relevant non-EU authorities whose legal and supervisory framework for CCPs have been deemed equivalent to EMIR by the European Commission.
The MoU is effective as of 02 June 2016.