in force 2024-12-24 MODIFIED+1,585 −625§
Amended by Regulation (EU) 2024/2987 32024R2987 · Regulation (EU) 2022/1671 32022R1671
applies from: unknown (the text changed beyond its dates, so no date that moved can be read as the application date)
dates added to the text: 2025-12-25 · dates removed: 2021-01-02
Paragraph 1 now covers CCPs that intend to extend to additional services or activities including non-financial instruments suitable for central clearing, describes the application as covering additional clearing services or activities in one or more classes of derivatives, securities, other financial instruments or non-financial instruments, and adds an exemption reference to Article 15a, while also allowing the extension procedure to follow either Article 17 or Article 17a as applicable.
Paragraph 3 changes the mandate for the regulatory technical standards from specifying conditions for determining whether an extension requires authorisation and the college consultation procedure, to specifying the lists of required documents and information that must accompany an extension application, and the submission deadline to the Commission moves from 2 January 2021 to 25 December 2025.
A new paragraph 4 is added requiring ESMA to develop draft implementing technical standards on the electronic format for submitting extension applications via the central database, with submission to the Commission by 25 December 2025.
Cited: Art. 15, v1 · Art. 15, v2
text before / after
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before (02012R0648-20220812)
Article 15 Extension of activities and services 1. A CCP wishing to extend its business to additional services or activities not covered by the initial authorisation shall submit a request for extension to the CCP’s competent authority. The offering of clearing services for which the CCP has not already been authorised shall be considered to be an extension of that authorisation. The extension of authorisation shall be made in accordance with the procedure set out under Article 17. 2. Where a CCP wishes to extend its business into a Member State other than that where it is established, the CCP’s competent authority shall immediately notify the competent authority of that other Member State. 3. In order to ensure consistent application of this Article, ESMA shall, in cooperation with the ESCB, develop draft regulatory technical standards specifying the conditions under which additional services or activities to which a CCP wishes to extend its business are not covered by the initial authorisation and therefore require an extension of authorisation in accordance with paragraph 1 of this Article and also specifying the procedure for consulting the college established in accordance with Article 18 on whether or not those conditions are met. ESMA shall submit those draft regulatory technical standards to the Commission by 2 January 2021. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.
after (02012R0648-20241224)
Article 15 Extension of activities and services 1. A CCP that intends to extend its business to additional services or activities, including to non-financial instruments suitable to be centrally cleared at an authorised CCP, not covered by the existing authorisation shall submit an application for an extension of that authorisation to additional clearing services or activities in one or more classes of derivatives, securities, other financial instruments or non-financial instruments, to the CCP’s competent authority, unless such an extension of activities or services is exempted from authorisation under Article 15a. The extension of authorisation shall be made in accordance with either the procedure set out in Article 17 or the procedure set out in Article 17a, as applicable. 2. Where a CCP wishes to extend its business into a Member State other than that where it is established, the CCP’s competent authority shall immediately notify the competent authority of that other Member State. 3. ESMA, in close cooperation with the ESCB, shall develop draft regulatory technical standards to specify the lists of required documents that shall accompany an application for an extension of authorisation pursuant to paragraph 1 and to specify the information that such documents shall contain. The lists of required documents and information shall be relevant and proportionate to the nature of the extension of authorisation procedures referred in paragraph 1, with a view to demonstrating that the CCP meets all relevant requirements of this Regulation. ESMA shall submit the draft regulatory technical standards referred to in the first subparagraph to the Commission by 25 December 2025. Power is delegated to the Commission to supplement this Regulation by adopting the regulatory technical standards referred to in the first subparagraph of this paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010. 4. ESMA shall develop draft implementing technical standards to specify the electronic format of the application for an extension of the authorisation referred to in paragraph 1 of this Article to be submitted via the central database. ESMA shall submit the draft implementing technical standards referred to in the first subparagraph to the Commission by 25 December 2025. Power is conferred on the Commission to adopt the implementing technical standards referred to in the first subparagraph of this paragraph in accordance with Article 15 of Regulation (EU) No 1095/2010.