30 Janvier 2014

ESMA delivers second set of advice on EMIR equivalence / Protocole on the operation of the ESMA MIFID Database (update)

30 janvier 2014

  • Protocole on the operation of the ESMA MIFID Database (update)

Lire le protocol on the operation of esma mifid database final


  • ESMA proposes conditional equivalence

Following its technical advice published on 9 September 2013, the European Securities and Market Authority (ESMA) has published a supplement to its advice to the European Commission on the equivalence of the regulatory regime for central counterparties (CCPs) of Japan with the European Markets Infrastructure Regulation (EMIR).

This supplement to the September 2013 Final report sets out ESMA's advice to the European Commission is in respect of the equivalence between the Japanese regulatory regime for commodity CCPs and the regulatory regime for CCPs under EMIR.


  • ESMA proposes conditional equivalence
As for ESMA's advice to the Commission in respect of Japan for CCPs which clear transactions relating to securities, currencies, interest rates, credit, weather, GDP and other indices, ESMA considers that the Japanese regulatory regime for commodity CCPs contains legal provisions and involves supervision and enforcement similar to that of EMIR.

The Commission is expected to use ESMA's technical advice to prepare possible equivalence decisions. Where it adopts such a decision, certain provisions of EMIR may be disapplied in favour of equivalent third-country rules. In particular, ESMA may recognise within the EU a CCP which is authorised outside the EU.

List of central counterparties (CCPs) established in non-EEA countries which have applied for recognition under Article 25 of Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, CCPs and trade repositories (TRs) (EMIR)


Lire l'article ESMA list of applicant tc ccps version 30 january 2014


  • Report : ESMA technical advice on equivalence of Japan for CCP II - Commodities CCPs

Lire le supplément au rapport ESMA technical advice on equivalence of japan for ccp ii commodities ccps



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