Esma takes flak over vague CCP enhanced supervision plans

JP Morgan calls for more quantitative thresholds for determining systemic foreign CCPs

Esma data montage

Draft plans from the European Securities and Markets Authority (Esma) on designating non-European central counterparties as subject to enhanced supervision – so-called tier two CCPs – are too vague, an executive director at JP Morgan has complained.

“[The tiering consultation suggests] what the indicators are for the European Commission to look at on how they assess a CCP [is a tier two CCP],” said Farida El-Gammal, an executive director of global clearing regulatory change at JP Morgan, at the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here