ESMA has been making plans to prepare for a ‘no-deal’ scenario ahead of Brexit, with disruption to clearing being one of the biggest concerns.
ESMA will publish its findings on periodic auctions in the coming months and will make a decision on whether to recommend changes to how they operate.
ICE Clear Europe and BME Clearing faced minor shortfalls, but overall EU CCPs passed the stress test.
ESMA has urged national regulators to improve their oversight of default testing procedures for clearing houses.
ESMA's Steven Maijoor has welcomed proposals to impose stricter controls on UK CCPs clearing euro-denominated derivatives.
Economic benefit of using CCPs for repo trades should be weighed against need for increased margin, says OFR.
Clearing volumes for interest rate derivatives increased 25% over 2016, spurred by regulation and the migration to new cleared products.
The EC has proposed a new recovery and resolution toolkit for potential failing CCPs.
The start-up aims to use blockchain technology to replace clearing houses and remove intermediaries between trades.
Europe's regulator has deemed that European clearing houses will be able to deal with stress scenarios.