UK Grants Equivalence to EEA CCPs
11/10/2020The U.K. Central Counterparties (Equivalence) Regulations 2020 (SI No. 2020/1244) have been made, granting equivalence for EEA CCPs from 10:59 pm on December 31, 2020. The decision will enable U.K. businesses and trading venues to continue using the clearing services of EEA CCPs under the U.K. European Market Infrastructure Regulation after the end of the Temporary Recognition Regime, provided that the Bank of England grants the individual CCP concerned recognition status.
The EU has granted temporary equivalence for U.K. CCPs, which is set to expire in June 2022.
View the Central Counterparties (Equivalence) Regulations 2020, SI No. 2020/1244.
View details of the temporary equivalence decision for U.K. CCPs.
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