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Joint associations letter to Vice-President Dombrovskis on Temporary Equivalence and Recognition in relation to UK CCPs
7 December 2018 The International Swaps and Derivatives Association (ISDA), Futures Industry Association (FIA), Association for Financial Markets in Europe (AFME) and International Capital Markets Association (ICMA) have written to the European Commission to welcome the statement regarding temporary equivalence for the purpose of recognition for UK CCPs in the European Commission’s Communication regarding Brexit Contingency Planning published 13 November (“Communication”) and the statement by ESMA published on 23 November.
 
The signatory organisations are committed to supporting financial stability and appreciate the clearly stated intention of the Commission’s Communication, to clarify that there will be continuity of service for EU members in this area of systemic importance, even in a hard Brexit scenario. Yet it has been identified that certain areas of uncertainty nonetheless remain and it is important that these urgently be clarified, in order to avoid undue disruption.
 
View the letter.

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