Central counterparties perform two main functions as the intermediary in a market transaction – clearing and settlement – and guarantee the terms of trade. With the withdrawal of recognition, they will no longer be able to provide services to clearing members and trading venues established in the EU, ESMA had said.
ANTITRUST AND COMPETITION - EU Foreign Subsidies Regulation Expected to Enter into Force by Mid-2023 - On 28 November 2022, the Council of the European Union adopted the Foreign.
On 28 November 2022, the Council of the European Union adopted the FSR, which granted the European Commission the power to investigate foreign subsidies that distort the EU internal market and to remedy any possible distortion that they would create.