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ESMA, CFTC Sign Updated MOU On Derivatives Clearing Organizations

European securities regulator ESMA and U.S. futures regulator the CFTC have signed a new Memorandum of Understanding regarding cooperation and the exchange of information with respect to certain registered derivatives clearing organizations established in the United States that are central counterparties recognized by ESMA under the European Market Infrastructure Regulation (EMIR).

“We look forward to building upon our strong relationship with ESMA and embarking upon a cooperative relationship with ESMA’s new CCP Supervisory Committee,” said Suyash Paliwal, Director of the CFTC’s Office of International Affairs. “The deferential approach embodied in this MOU is a major milestone in the years-long engagement between the CFTC and its EU counterparts on the implementation of EMIR as amended.”

“I am pleased to see ESMA entering a phase of closer cooperation with the CFTC,” said Chair of ESMA’s CCP Supervisory Committee Klaus Löber. “This MOU sets out the basis for the enhanced collaboration between our institutions and is an important step towards building the risk-based and outcome-focused supervision of CCPs in accordance with the amended European Market Infrastructure Regulation.”


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