On 27 October 2026, there was made The Central Counterparties (Equivalence) (Indonesia and the People’s Republic of China) Regulations 2026 together with an explanatory memorandum.
Article 25(1) of UK European Market Infrastructure Regulation (UK EMIR) provides that overseas central counterparties (CCPs) may only provide clearing services to clearing members or trading venues established in the United Kingdom if the CCP is recognised by the Bank of England (BoE). A pre-condition of
recognition is that HM Treasury has made an equivalence determination in regulations made under Article 25(6).
The Regulation now made is an equivalence determination with respect to the regulatory framework in relation to authorisation and supervision of CCPs in Indonesia and the People’s Republic of China, by the relevant regulator in that jurisdiction. It grants non-time limited equivalence, which is a pre-requisite for recognition to be considered by the BoE and non-time limited access to the UK.
The Regulation comes into force on 19 November 2026.