ESMA consults on CCP Business Reorganisation Plans

Sep 22nd '22

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published a consultation paper seeking views on proposed rules for Central Counterparties’ (CCPs) business reorganisation plans. The proposed rules are part of the CCPs resolution regime under the CCPRRR.


The draft Regulatory Technical Standard (RTS) provides clarifications and covers the minimum elements to be included in the business reorganisation plans that CCPs are expected to implement as part of their resolution tools under CCPRRR, as well as the criteria to be fulfilled by them.


The objective of the proposed measures is to ensure that CCPs which are failing or likely to fail, maintain continuity of their critical functions and core business lines, as well as to reduce the impact of any failure on the EU financial system.


Next steps

Stakeholders, particularly CCPs, clearing members, direct and indirect clients, as well as the competent authorities involved in CCP recovery and resolution are invited to submit their input by 1 December 2022. ESMA will consider the feedback it receives to the consultation with a view to publishing the final reports by Q1 2023.


Source: ESMA