ESMA updates list of recognised third-country CCPs
On 28 Sept 2016 the European Securities and Markets Authority (ESMA) has updated its list of recognised central counterparties (CCPs) based in third countries. The update concerns the recognition of the US-based CCPs ICE Clear Credit LLC (ICC) and the Minneapolis Grain Exchange Inc. (MGEX).
The European Markets Infrastructure Regulation (EMIR) requires third-country CCPs to be recognised by ESMA in order to operate in the European Union.