European Securities and Markets Authority publishes final report and draft Regulatory Technical Standards on colleges for central counterparties under European Market Infrastructure Regulation 3

The European Securities and Markets Authority has published its final report containing draft regulatory technical standards relating to colleges for central counterparties under the European Market Infrastructure Regulation 3. The report presents draft amendments to the RTS on colleges for CCPs, to reflect the changes introduced by EMIR 3 on the functioning of CCP colleges. The proposed draft amendments concern the practical arrangements for the functioning of the college with regard to the respective roles of the co-chairs and the interaction between them, the information to be shared with the college and the modalities of communication between college members. ESMA is not conducting an open public consultation on the proposed amendments, as the proposed amendments are limited in scope and only concern competent authorities. ESMA has consulted the European System of Central Banks and other relevant competent authorities, and has also consulted the Securities and Markets Stakeholder Group. ESMA will submit the draft amendments to the European Commission, which will have three months to decide whether to endorse them.

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