ESMA signs Memorandum of Understanding with the Indonesia Financial Services Authority and recognises PT Kliring Penjaminan Efek Indonesia as Tier 1 CCP
26 October 2023
CCP
International cooperation
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has signed a Memorandum of Understanding (MoU) with the Indonesia Financial Services Authority and updated its list of recognised third-country central counterparties (TC CCPs) under the European Markets Infrastructure Regulation (EMIR).
On 19 October 2023, ESMA recognised PT Kliring Penjaminan Efek Indonesia (KPEI) as a Tier 1 CCP under Article 25 of the European Market Infrastructure Regulation (EMIR).
The recognition of PT Kliring Penjaminan Efek Indonesia as a third country CCP follows the adoption of an equivalence decision regarding the regulatory framework for central counterparties in Indonesia with EMIR requirements on 8 June 2022. ESMA and the Indonesia Financial Services Authority signed a Memorandum of Understanding (MoU) on 30 September 2023.
The MoU establishes cooperation arrangements, including the exchange of information, regarding CCPs which are established in Indonesia and authorised or recognised by the Otoritas Jasa Keuangan, the Indonesia Financial Services Authority, and which have applied for EU recognition under EMIR.
EMIR provides for cooperation arrangements between ESMA and the relevant non-EU authorities whose legal and supervisory framework for CCPs has been deemed equivalent to EMIR by the European Commission.
With this MoU, ESMA has concluded 25 cooperation arrangements under EMIR with relevant non-EU supervisory authorities from 21 countries across all continents, including:
Africa: South Africa
Asia: China, Hong Kong, Indonesia, Israel, Japan, Malaysia, Republic of Korea, Singapore, Taiwan, United Arab Emirates
Europe: Switzerland, United Kingdom
North America: Canada, Mexico, United States of America
South America: Brazil, Chile, Colombia
Oceania: Australia, New Zealand
Further information:
Sarah Edwards
Senior Communications Officer
@ press@esma.europa.eu
26/10/2023
ESMA91-398-6343
Memorandum of Understanding between ESMA and Otoritas Jasa Keuangan (‘OJK’, the Indonesia Financial Services Authority) related to CCPs Established in Indonesia
25/10/2023
ESMA70-152-348
List of third-country CCPs recognised to offer services and activities in the Union