ESMA to cooperate with Indian regulators on CCPs
The European Securities and Markets Authority (ESMA) has established a Memorandum of Understanding (MoU) with the Securities and Exchange Board of India (SEBI) under the European Markets Infrastructure Regulation (EMIR).
The MoU establishes cooperation arrangements, including the exchange of information, regarding Central Counterparties (CCPs) which are established and authorised or recognised in India, 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 21 June 2017.