Version date: 20 March 2013 - onwards
CCP Question 1: Most relevant currencies for the determination of participation in a college [last update 20 March 2013]
Article 18 of EMIR - Most relevant currencies for the determination of participation in a college:
Which are the criteria to be used by a new entity that applies for authorisation as a CCP, if the respective entity has not performed any clearing activities before?
CCP Answer 1
In the case of a new entity which has not performed any clearing activities before, the determination of the most relevant currencies for the purpose of membership of the CCP college would be performed on the basis of the relative share of each currency in the estimated volumes across all financial products proposed to be cleared by the CCP.
A similar determination would also be made for CCPs which have performed clearing activities for less than one year.