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April 10, 2014

European CCP Authorisation Score Sheet

Keep track of which CCPs are authorised and when.

Progress in authorising CCPs has moved on another step to make four now. The official announcement came from BaFIN and isn't on the ESMA website yet, but Eurex were proud to acknowledge the event:

“Our EMIR authorisation is an important milestone and confirms full compliance of our clearing services with the EMIR rules” says Thomas Book, CEO of Eurex Clearing. “We are very happy that at this stage Eurex Clearing can provide its clients and members with the clarity and reassurance needed to undertake their readiness planning and onboarding preparation for the looming clearing mandate in Europe.”
 
Eurex Clearing submitted its application to BaFin for authorisation pursuant to EMIR on 1st August 2013. It was determined complete on 11th October 2013. The risk assessment report by BaFin concluding full EMIR compliance of Eurex Clearing’s application, was submitted to the College established for Eurex Clearing on 10th February 2014. On 10th April 2014 the authorization was granted within the foreseen timeline.

The timeline above fits with the expected 4 months review by their regulator BaFIN and 2 months review by the wider college of regulators. For reference, using a combination of data from ESMA and EACH, here is a list of European CCPs and their authorisation status.

The ESMA website lists the authorised CCPs from this page: http://www.esma.europa.eu/page/Registries-and-Databases "Central Counterparties authorised to offer services and activities in the Union", the PDF changes name each time they update it, so no point in linking using the URL.

 


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