[MoU Israel ] Memorandum of Understanding between ESMA and the Israel Securities Authority Related to CCPs Established in Israel

The European Securities and Markets Authority, ESMA, has published a Memorandum of Understanding (MoU) concluded between itself and the Israel Securities Authority as regards the supervision of central counterparties established in Israel (CCPs). Therein, the regulators agree to closely cooperate on such supervision and exchange information – within legal limits – on counterparties that are applying or have already applied for third-country recognition in the European Union or that have already been recognized as such. They also agree on a regular exchange of information pertaining to regulatory developments and supervisory efforts in the respective jurisdictions. The purpose of the MoU, so ESMA, is to facilitate an effective supervision of compliance with EU rules and regulations of CCPs established in Israel and also to ensure that the regulations of the Israel Securities Authority are and remain consistent with those in the EU as regards the supervision of CCPs. The agreement was published on March 15, 2023.