ESMA signs Memorandum of Understanding with the Indonesia Financial Services Authority and recognises PT Kliring Penjaminan Efek Indonesia as Tier 1 CCP

Summary:
The European Securities and Markets Authority (ESMA) has signed a Memorandum of Understanding (MoU) with the Indonesia Financial Services Authority and recognized PT Kliring Penjaminan Efek Indonesia (KPEI) as a Tier 1 Central Counterparty (CCP) under the European Markets Infrastructure Regulation (EMIR). This recognition follows the adoption of an equivalence decision regarding the Indonesian regulatory framework for central counterparties with EMIR requirements. The MoU establishes cooperation arrangements for the exchange of information regarding CCPs established in Indonesia and authorized/recognized by the Indonesia Financial Services Authority and applying for EU recognition under EMIR.