On 22 January, the European Commission proposed to extend the equivalence decision for UK Central Counterparies (CCPs) - which was set to expire on 30 June 2025 - until 30 June 2028. The move comes amid the ongoing implementation of the updated European Market Infrastructure Regulation (EMIR) which aims to onshore derivatives clearing into the EU and away from CCPs in the UK.

In December 2024, AIMA - along with several other trade associations - expressly called on the new Commissioner for Financial Services Maria Luis Albuquerque to adopt such a move in our joint-industry association letter sent to the new Commissioner.

Member States in the Council are expected to indicate their support for the Commission’s move the week beginning Monday 27 January, after which the formal adoption process for the equivalence decision will be taken.

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