The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has announced today its decision to extend the application of the recognition decisions under Article 25 of EMIR (Regulation (EU) 648/2012) for the three CCPs established in the United Kingdom.
On 22 March 2022, ESMA amended the recognition decisions and tiering determination decisions in respect of the three recognised UK CCPs – ICE Clear Europe Ltd, LCH Ltd and LME Clear Ltd – that were adopted by ESMA on 25 September 2020, to align them with the Commission Implementing Decision (EU) 2022/174 adopted by the European Commission on 8 February 2022.
Accordingly, the application of the recognition decisions and tiering determination decisions in respect of ICE Clear Europe Ltd, LCH Ltd (as Tier 2 CCPs) and LME Clear Ltd (as a Tier 1 CCP) has been temporarily extended until 30 June 2025.