ESMA expands recognised third-country CCP list to include Indonesia’s KPEI
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ESMA expands recognised third-country CCP list to include Indonesia’s KPEI 27 October 2023Indonesia Reporter: Lucy Carter
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The European Securities and Markets Authority (ESMA) has updated its list of recognised third-country central counterparties (CCPs) under the European Markets Infrastructure Regulation (EMIR).
An equivalence decision on the regulatory framework for CCPs in Indonesia with EMIR requirements was made on 8 June 2022, with PT Kliring Penjaminan Efek Indonesia (KPEI) recognised as a Tier 1 CCP under EMIR Article 25 on 19 October 2023.
On 30 September, a memorandum of understanding (MoU) was signed between ESMA and the Indonesia Financial Services Authority, outlining cooperation arrangements for CCPs that are established in Indonesia, authorised or recognised by the Indonesia Financial Services Authority, and have applied for EU recognition under EMIR.
EMIR allows ESMA to establish cooperation agreements with non-EU authorities whose legal and supervisory frameworks are seen as EMIR-equivalent by the European Commission. Currently, 25 cooperation agreements with non-EU supervisory authorities have been concluded by ESMA under EMIR, spanning 21 countries and all continents.
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