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ESMA Publishes First Annual Review of CCP Colleges Under EMIR--European Securities and Markets Authority 

January 19, 2015

Nathaniel W. Lalone, The National Law Review 

On January 8, the European Securities and Markets Authority (ESMA) published its first annual review of the colleges required to be established under Article 18 of the European Market Infrastructure Regulation (EMIR). The colleges are established for the purpose of reviewing and approving applications by central counterparties (CCPs) for authorization to clear one or more classes of financial instruments under EMIR.

College participants include ESMA and the applicant’s national competent authority, as well as the competent authorities responsible for supervising the applicant’s clearing members, trading venues, central securities depositories and other CCPs with which the applicant maintains interoperability arrangements. In 2014, 15 CCPs were authorized under EMIR.

Read More: The National Law Review 

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