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Once recognised, US CCPs may continue to provide services in the EU whilst complying primarily with their own local requirements.
CFTC staff will propose a determination of comparability with respect to EU requirements, which will permit EU CCPs to provide services in the US whilst complying primarily with their own local requirements. The CFTC will also streamline the registration process for EU CCPs wishing to register with them.
The common approach follows detailed analysis of differences between the CFTC and EU regulatory requirements, undertaken over a number of years. Both the CFTC and EU requirements are based on international principles, and CFTC staff and the European Commission Services will work together, along with counterparts across the global regulatory community, to further develop these principles and further harmonise the standards to which internationally active CCPs are held.