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Industry news

ESMA’s Dubai CCP decision suspended by ESA


27 October 2023 Europe
Reporter: Lucy Carter

Generic business image for news article
Image: ajandali/stock.adobe.com
The Joint Board of Appeal of the European Supervisory Authorities (ESA) has suspended the European Íø±¬³Ô¹Ï and Market Authority’s (ESMA) decision to withdraw the recognition of Dubai Commodities Clearing Corporation (DCCC) as a Tier 1 third-country central counterparty.

ESMA made the decision based on the inclusion of the United Arab Emirates on the high-risk third countries list included in the Commission Delegated Regulation (EU) 2016/1675.

DCCC appealed the decision and requested that the ESA Joint Board of Appeal extend the adaptation window and suspend the verdict until the appeal was concluded.
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