Strengthening EU Clearing Markets

by name voted on 24.04.2024

Summary

A regulation to reduce EU reliance on non-EU clearing houses and improve the efficiency of Union clearing markets.

9 24.04.2024

Report

economy

administrative reform

public administration

business and competition

simplification of legislation

financial institutions and credit

Key points

The regulation aims to reduce the EU's reliance on systemically important third-country clearing houses.
Financial and non-financial counterparties must maintain 'active accounts' at Union-based CCPs for specific derivative categories.
Active accounts must be fully operational, including IT connectivity and legal documentation, within six months of becoming subject to the obligation.
An accelerated procedure is introduced for CCPs to extend their services if the changes are considered non-material.

Vote

PPE

S&D

Renew

PfE

Verts/ALE

ECR

The Left

NI

ESN

Total

Documents (PDFs)

PROVISIONAL AGREEMENT RESULTING FROM INTERINSTITUTIONAL NEGOTIATIONS Proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) No 648/2012, (EU) No 575/2013 and (EU) 2017/1131 as regards measures to mitigate excessive exposures to third-country central counterparties and improve the efficiency of Union clearing markets DRAFT REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) No 648/2012, (EU) No 575/2013 and (EU) 2017/1131 as regards measures to mitigate excessive exposures to third-country central counterparties and improve the efficiency of Union clearing markets REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) No 648/2012, (EU) No 575/2013 and (EU) 2017/1131 as regards measures to mitigate excessive exposures to third-country central counterparties and improve the efficiency of Union clearing markets Measures to mitigate excessive exposures to third-country central counterparties and improve the efficiency of Union clearing markets

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