FIA President and CEO Walt Lukken today made the following statement in reaction to the EC and ESMA decisions to formally grant temporary equivalence and recognition for clearinghouses based in the UK, which allow them to continue to provide clearing services in the EU at the end of the transition period between the EU and the UK.
“Today’s decision by ESMA on the recognition of UK CCPs, combined with the European Commission’s adoption of time-limited equivalence, ensures financial stability, operational continuity and market access for customers. During these uncertain times, it is imperative that businesses have access to clearinghouses and the risk mitigating services they provide. FIA thanks the leadership shown by EC Executive Vice-President Valdis Dombrovskis and ESMA Chairman Steven Maijoor in making these important determinations.”
