EuroCCP is free to do what it wants 03 April 2014 Amsterdam Reporter: Georgina Lavers
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EuroCCP, the European cash equities clearer, is now an authorised central counterparty under the European Market Infrastructure Regulation (EMIR).
The Dutch central bank De Nederlandsche Bank (DNB) granted the authorisation.
Once authorised, a central counterparty can conduct business in any EU member state without the need for further local regulatory approvals.
By granting the license, DNB confirms that EuroCCP complies with EMIR, which includes requirements in respect of risk management, governance and capital.
Diana Chan, CEO of EuroCCP, said: “Receiving authorisation under EMIR is a major step for EuroCCP. It confirms to clearing participants, their clients and the trading platforms that EuroCCP’s risk management framework, operating model and technology meet the safety standards required by EMIR.”
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