ESMA outlines its approach to reporting on systemic impacts of clearing
PWC UK
OCTOBER 26, 2021
ESMA will identify any difference in basis available between TC and EU CCPs, and model any concentration add-ons. It will prepare its own estimate, but will ask EU and TC CCPs, as well as a number of market participants, for their estimations. 3 - Other, i.e. general consequences of non-recognition for EU market participants.
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