A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets.
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Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
On February 2, 2108, the European Securities and Markets Authority published a report setting out the results of its second EU-wide CCP stress test exercise
within Consumer Protection, Insolvency/Bankruptcy/Re-Structuring and Insurance topic(s)
On February 2, 2108, the European Securities and Markets
Authority published a report setting out the results of its second
EU-wide CCP stress test exercise. The European Market
Infrastructure Regulation requires ESMA to conduct the exercise at
least once per year to assess the resilience and safety of EU CCPs.
The second stress test tested the resilience of 16 European CCPs,
with approximately 900 clearing members EU-wide.
The 2017 stress test builds on the first stress test conducted
in 2016, which only examined counterparty credit risk. The second
stress test included liquidity risks and examined whether CCPs
would meet their liquidity needs under different stress scenarios.
ESMA has published some Q&A to accompany the report.
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