The European Securities and Markets Authority (ESMA) has signed a memorandum of understanding (MoU) with the British Columbia Securities Commission, recognising CDS Clearing and Depositary Services (CDSC) as a Tier 1 third-party central counterparty.
Under EMIR, the authority has 26 cooperation arrangements with non-EU supervisory authorities in place. This allows for cooperation between ESMA and authorities with equivalent legal and supervisory CCP frameworks to EMIR.
This latest MoU established cooperation arrangements between CCPs established in Canada, authorised by the British Columbia Securities Commission and which have applied for EU recognition under EMIR. EMSA already has MoUs in place with the Ontario Securities Committee and the Autorité des Marchés Financiers of Québec.
©Markets Media Europe 2024
