As LME prepares to launch its OTC clearing service, ESMA grants regulatory approval as CCP

The European Securities and Markets Authority (ESMA) has today added LME Clear Ltd to its list of registered CCPs under the European Markets Infrastructure Regualtion (EMIR) subsequent to publishing its final counterparties. EMIR requires EU-based CCPs to be registered and non-EU CCPs to be recognised in the European Union (EU).

LME Clear is the latest in the current array of central counterparties which are establishing their operations to serve the electronic trading industry during the switch to the new MiFID II directive and the forthcoming European Market Infrastructure Regulation (EMIR).

This particular CCP has been developed as a result of London Metal Exchange having built its own clearing house, LME Clear, launching on 22 September 2014. The service has been designed and built in consultation with our members, especially for users of the LME.

For the full announcement, click here.

Read Also: