TMX announced today that both NGX, a leading North American energy exchange and central clearing counterparty (CCP), and the Canadian Derivatives Clearing Corporation (CDCC), Canada's national CCP for exchange-traded derivative products, certain over-the-counter (OTC) products and repos, have received third country CCP recognition from the European Securities and Markets Authorities (ESMA), effective immediately. Recognition as a third country CCP under European Market Infrastructure (EMIR) allows CCPs from outside of the EU to provide clearing services to clearing members or trading venues established in the EU.
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