Eurex Clearing has received approval from BaFin (Federal Financial Supervisory Authority), the financial regulatory authority of Germany, to operate as a clearinghouse under the European Market Infrastructure Regulation (EMIR).
Eurex Clearing submitted its application to BaFin on August 1, 2013, which was deemed complete in October. In February, BaFin then issued a risk assessment report to a college of regulators set up for Eurex, which included ESMA, the Eurosystem, several central banks and supervisory authorities from eight Member States. The final conclusion to grant the license fell within the expected timeline.
“Our EMIR authorization is an important milestone and confirms full compliance of our clearing services with the EMIR rules,” says Thomas Book, CEO of Eurex Clearing. “We are very happy that at this stage Eurex Clearing can provide its clients and members with the clarity and reassurance needed to undertake their readiness planning and onboarding preparation for the looming clearing mandate in Europe.”
Eurex Clearing Receives EMIR License
Eurex Clearing has received approval from BaFin (Federal Financial Supervisory Authority), the financial regulatory authority of Germany, to operate as a clearinghouse under the European Market Infrastructure Regulation (EMIR).