On 25 March 2022, the European Securities and Markets Authority (ESMA) announced a series of updates in relation to the recognition of central counterparties (CCPs) established in third countries under the European Markets Infrastructure Regulation (EMIR). The updates include the review of recognitions of third country CCPs (TC–CCPs)  that were already previously recognised, the conclusion of revised Memoranda of Understanding with relevant third country authorities, as well as the first-time recognition of the National Securities Clearing Corporation (NSCC). NSCC is authorised and supervised by the US Securities and Exchange Commission (SEC), as a Tier 1 CCP under Article 25 of EMIR following the adoption by the European Commission of Commission Implementing Decision (EU) 2021/852 on the equivalence to the requirements of EMIR of the United States regulatory framework for CCPs that are authorised and supervised by the SEC in January 20221.