LCH.Clearnet receives EMIR authorisation 12 June 2014London Reporter: Tammy Facey
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LCH.Clearnet has received confirmation from the Bank of England regarding its application to become a central counterparty (CCP) under the European Market Infrastructure Regulation (EMIR).
The EMIR authorisation confirms LCH.Clearnet has met the requirements necessary for sufficient operation.
Michael Davie, chief executive of LCH.Clearnet, said: "We are delighted with this affirmation that our services are fully compliant under the EMIR rules.”
Davie added that the LCH.Clearnet Group’s CCP has “worked diligently” to ensure it “remains fully committed to supporting the market as the European clearing mandates evolve”.
The green light from the Bank of England follows authorisation from the French Prudential Supervisory Authority (L’Autorité de Contrôle Prudentiel et de Résolution) on 22 May.
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