EU and US reach CCP recognition deal

US counterparties will be able to continue providing services to European market participants

Jonathan Hill: the deal is an important step towards regulatory convergence

In a positive development for central counterparties (CCPs), the European Commission recently determined that the Commodity Futures Trading Commission (CFTC) rules regulating them are equivalent to EU requirements.

This means CCPs registered with the CFTC will be able to obtain recognition in the European Union and provide their services to European market participants to clear their over-the-counter derivatives trades in compliance with EU regulation while remaining subject only to their home

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