Clifford Chance
European Commission equivalence decisions a welcome development for Asia Pacific clearing houses
6 November 2014
In a welcome development for clearing houses ("CCPs") in Hong Kong, Singapore, Australia and Japan, the European Commission adopted its first equivalence decisions for the CCP regulatory regimes in these Asia Pacific jurisdictions on 30 October 2014. This paves the way for eleven CCPs from these jurisdictions to obtain recognition in the European Union ("EU"), although cooperation arrangements still need to be put in place between the European Securities and Markets Authority ("ESMA") and the relevant regulators.
