Large central clearing counterparties (CCPs) clear trillions of transactions between their members. For the EU, the bulk of the CCP clearing for EU financial institutions takes place in the UK. The modified rules of EMIR 2.2 allow ESMA to directly supervise third-country CCPs, in case there is an equivalence agreement, which concerns mainly the UK. The relationship between ESMA and the Bank of England, responsible for CCP supervision in the UK, is thus of crucial importance.
This webinar will discuss the different approaches of CCP supervision, and the tools available. It is off-the-record, and upon invitation only.
- How could the appropriate levels of safety, soundness, and confidence in clearing supervision be achieved?
- Is the current framework for supervising EU CCPs fit for purpose?
- How is ESMA growing into its new role, and how well is the CCP Supervisory Committee functioning?
- What tools are available to strengthen confidence building among CCP supervisors? How are they reacting to market stress?
Discussants:
- Danuta Hübner, MEP and CEPS Board Member
- Klaus Löber, Chair of CCP Supervisory Committee, ESMA
- Christina Segal-Knowles, Executive Director for Financial Markets Infrastructure, Bank of England
Moderators:
- Karel Lannoo, CEO of CEPS and General Manager and ECMI
- Niamh Moloney, Professor of European Capital Markets Law, LSE
