Esma, Singaporean Regulators Signs MoU on CCPs
MoU to set the cooperation arrangements regarding Central Counterparties (CCPs).
Under the European Markets Infrastructure Regulation (EMIR), CCPs from non-EU authorities, whose legal and supervisory framework have been deemed equivalent by the European Commission, can benefit from the status of Covered CCPs and act as clearing houses for clearing members or trading venues in European firms.
Since this status depends whether CCPs are fulfilling the conditions set out in the Article 25 of EMIR, this MoU will provide Esma with the adequate tools to monitor the CCPs are compliant under the Recognition Conditions.
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