ESMA Final Report on CCP Interoperability Risks and Costs

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ESMA Final Report on CCP Interoperability Risks and Costs

Postby kreslik.news » Tue Mar 01, 2016 9:35 am


The European Securities and Monetary Authority (ESMA) has just released its final report on the cost implications of interoperability among central counter party (CCP) and potential systemic risk from participants within the framework aimed at increasing liquidity and regulatory harmonization within EU markets.

Following the 2012 EMIR rules that laid the backbone of the framework, after the 2006 code of conduct for CCP links, interoperability agreements have been established from among many nearly two dozen dealers, such as exchange members, banks, and interbank brokers, and some of whose agreements even pre-dated EMIR – or at least in conception.

CCPs can carry ... (read more)

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