CME Clearing Europe receives authorization to extend services

The European Securities and Markets Authority (ESMA) on Wednesday announced an update to its list of authorized central clearinghouses (CCPs), which fall within the scope of the European Markets Infrastructure Regulation (EMIR).

The latest update concerns CME Clearing Europe, a subsidiary of CME Group Inc (NASDAQ:CME). CME Clearing Europe has been authorised to extend its activities and services to clear futures on European Union allowances.

CME Clearing Europe (CMECE), launched in May 2011, is a London-based clearing house which operates in an English law and European regulatory environment. It provides multi-asset class clearing services covering OTC transactions and exchange-traded derivatives on CME Europe, the London-based derivatives exchange.

In addition to being registered as a limited company registered in the UK and a Recognised CCP regulated by the Bank of England, as well as a CCP under EMIR, CME Clearing Europe is a Designated Security Settlement System under the Financial Markets and Insolvency (Settlement Finality) Regulations 1999, which implements the Settlement Finality Directive (Directive 98/26/EC) of the European Parliament and of the Council of 19 May 1998.


To view the official announcement from ESMA, click here.

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