The FINANCIAL — Intercontinental Exchange announced on February 10 that ICE Clear Canada has been recognized as a third-country central counterparty (CCP) in accordance with the European Market Infrastructure Regulation (EMIR).
“With a significant amount of business on our Canadian markets originating in Europe, we’re pleased to receive EMIR recognition by the European Securities and Markets Authority (ESMA), allowing ICE Clear Canada to provide clearing services to European firms,” said Brad Vannan, ICE Futures Canada and ICE Clear Canada President and COO. “This provides an additional assurance to our European customers and enhances their confidence in our Canadian agricultural market, which includes our global benchmark canola contract.”
Regulated by the Manitoba Securities Commissions pursuant to the provisions of the Commodity Futures Act, ICE Clear Canada has been added to ESMA’s list of recognized third-country CCPs under EMIR following the European Commission’s assessment of Canada as an equivalent third country regime.
