The Commission adopts equivalence decision for US central counterparties

What? The decision means that the US Securities and Exchange Commission (SEC) regime for US central counterparties (CCPs) is now considered equivalent to EU rules (more specifically, the requirements laid down in the European Market Infrastructure Regulation, or EMIR).  

When? The decision was adopted 27 January 2021.

Why? The decision is a significant step in the process of making it possible for US CCPs registered with the SEC to be recognised in the EU. It means that these US CCPs can apply for recognition by the European Securities and Markets Authority (ESMA), and, once this is obtained, can provide central clearing services in the EU. The decision complements the existing equivalence decision for US CCPs regarding the US Commodity Futures Trading Commission (CFTC), which was adopted in 2016.

Want to know more? Recognition of non-EU financial frameworks (equivalence decisions); the European Market Infrastructure Regulation (EMIR); Most recent equivalence decision; Equivalence decision on US CCPs from 2016