Europejski Urząd Nadzoru Bankowego, Europejski Urząd Nadzoru Giełd i Papierów Wartościowych (European Securities and Markets Authority - ESMA), Europejski Urząd Nadzoru Ubezpieczeń i Pracowniczych Programów Emerytalnych (European Insurance and Occupational Pensions Authority - EIOPA), Decyzja wydana przez ESA w sprawie wniosku o przedłużenie okresu dostosowawczego w sprawie odwoławczej wniesionej przez Dubai Commodities Clearing Corporation (DCCC) przeciwko Europejskiemu Urzędowi Nadzoru Giełd i Papierów Wartościowych (ESMA)

BoA-D-2024-01

D E C I S I O N

given by

the

BOARD OF APPEAL

OF THE EUROPEAN SUPERVISORY AUTHORITIES

on

the request for an extension of the adaptation period

in the appeal case brought by

Dubai Commodities Clearing Corporation (DCCC)

[Appellant]

against

The European Securities and Markets Authority (ESMA)

[Respondent]

Board of Appeal

Michele Siri (President and Co-Rapporteur)

Christos Gortsos (Vice President)

Gerben Everts

Geneviève Helleringer

Margarida Lima Rego

Carsten Zatschler (Co-Rapporteur)

Place of this decision: Paris

29.01.2024

Summary

A. The Appellant, Dubai Commodities Clearing Corporation („DCCC”), which is established and authorised in the United Arab Emirates („UAE”), challenged a decision by the European Markets and Securities Authority („ESMA”) to withdraw the recognition of DCCC as a Tier 1 third-country central counterparty („CCP”) with an adaptation period of three months (the „Contested Decision”). Such recognition is a prerequisite for CCPs from outside the EU to provide certain clearing...