ESMA to cooperate with South Korean CCPs
The European Securities and Markets Authority (ESMA) has signed a memorandum of understanding to cooperate with South Korean central counterparties.
The agreement established cooperation arrangements, including exchange of information, with central counterparties that are established and authorised, or recognised, in South Korea, and which have applied for EU recognition under the European Market Infrastructure Regulation (EMIR).
It was signed by ESMA, the South Korean Financial Services Commission and the Financial Supervisory Service.
EMIR allows for cooperation between ESMA and non-EU authorities that have legal and supervisory frameworks deemed equivalent to EMIR by the European Commission.
