Version date: 31 March 2015 - onwards
CCP Question 6: Authorisation of a CCP [last update 31 March 2015]
Article 14 of EMIR - Authorisation of a CCP:
(a) What constitutes an activity or service covered by the initial authorisation of a CCP as referred to in Article 15(1) of EMIR?
(b) By when must a CCP be fully compliant with EMIR?
(c) Can the clock be stopped on application deadlines when an NCA is waiting for further information from the CCP? Can the CCP continue operating under the national regime until a final decision has been made on its authorisation under EMIR?
(d) What services and activities can a CCP be authorised under EMIR to provide or perform?
(e) Is a CCP required to comply with all of the requirements laid down in EMIR for all of the services that it provides and activities that it performs?
(f) Can a CCP be authorised to provide a service that prevents its clearing members to clear contracts between each other?
CCP Answer 6