CFTC signs MOU with ESMA.
By Sums on Tuesday,
The U.S. commodity Futures trading Commission (CFTC) proclaimed these days that CFTC Chairman Timothy Massad signed a memo of Understanding (MOU) with the European Securities and Markets Authority (ESMA) about cooperation with reference to derivatives clearing organizations (DCOs) established within the united states that have applied or that will apply to ESMA for recognition as central counterparties (Recognized CCPs).
CFTC signs MOU with ESMA, through the MOU, the CFTC and ESMA categorical their disposition to get together with reference to acknowledge CCPs. The CFTC and the European Commission (EC) associateticipated the execution of an MOU once the Common Approach for Transatlantic CCPs was announced earlier this year. As a part of that common approach, the ec adopted an equivalence call following that ESMA has undertaken a method for recognizing DCOs established within the us. The execution of this MOU satisfies a condition of the ESMA recognition method and serves to ease recognition of U.S. CCPs.