The European Securities and Markets Authority (ESMA) has today added ICE Clear US to its list of recognized third country central counterparties (CCPs) under the European Markets Infrastructure Regulation (EMIR).
EMIR requires EU-based CCPs to be authorized and non-EU CCPs to be recognized in the European Union (EU). Once a CCP has been authorized or recognized within the EU, EU firms can use these CCP to fulfill their clearing obligations.
Back in September, ICE Clear Europe was approved for EMIR authorisation.
The updated list of recognized CCPs is available on ESMA’s website.