The European Association of CCP Clearing Houses (EACH)
IRGiT has been EACH member since 1 April,11. Such privilege is a testimony that the House meets the safety and clearing standards presented – among others – in CPSS-IOSCO Recommendations. Joining EACH enabled IRGiT to cooperate with the best experts on the field of clearings, settlement as well collateralization in Europe.
Since becoming EACH member, the representatives of IRGiT participate in the General Meeting, meetings, telephone conferences as well as work in the following committees:
- Risk Committee
- Policy Committee
- Legal Committee
IRGiT is actively involved in the consultations of the European regulations relating to clearing houses’ activities.
IRGiT actively participates in the work of EACH including recognition bank guarantees as collateral, the review of EMIR Regulations, stress tests standards and involving clearing houses’ funds in the clearing securing system. In May 2015 IRGiT hosted EACH Risk Committee meeting.
The European Association of CCP Clearing Houses (EACH), was founded in 1992. Its aims are to discuss and analyze technologies and developments as well as legal and regulatory issues related to central counterparty clearing. EACH represents 21 members. Its participants are senior executives specializing in clearing and risk management from European CCPs, representing both EU and non-EU. Current activities involve addressing a number of issues regarding OTC derivative clearing, as well as working with the European Securities and Markets Authority (ESMA), European Banking Authority (EBA) and national supervisory authorities on the European Market Infrastructure Regulation (EMIR) and the proposed Capital Requirements Directive (CRDIV) on CCP exposures.
More about the EACH on website: www.eachccp.eu
CCP12 – global association of CCP clearing houses
On 1 January 2021 IRGiT became Primary Member in CCP12. CCP12 is a global association of 37 members who operate more than 60 individual CCPs globally across Europe, the Middle East, and Africa (EMEA), the Americas, and the Asia-Pacific (APAC) regions. CCP12’s mission is to promote effective, practical and appropriate risk management and operational standards for CCPs to ensure the safety and efficiency of the financial markets it represents. CCP12 leads and assesses global regulatory and industry initiatives that concern CCPs to form consensus views, while also actively engaging with regulatory agencies and industry constituents through consultation responses, forum discussions and position papers.
More about CCP12 on website: www.ccp12.org
Association of Futures Markets
On 12 December 2018 IRGiT became a member of the Association of Futures Markets (AFM).
Association of Futures Markets (AFM) is an organization bringing together commodity exchanges and clearing houses, established in 1998. The prime objective of the Association is to promote and encourage the establishment of new derivative markets and to support their development and competition in such markets. AFM is an international platform for exchange of experiences and best practices between commodity and financial exchanges and clearing houses across the globe.
More about the AFM on website: www.afmorg.net