CCP, Speeches : Klaus Löber's speech at the EACH CEO Summit, 15 May 2025

Keynote speech EACH CEO Summit – Warsaw 15 May 2025 16 May 2025 ESMA91-1505572268-4346 Klaus Löber - Chair of the ESMA CCP Supervisory Committee Ladies and gentlemen, dear colleagues from the CCP community, It is a pleasure join you today in Warsaw. I am always delighted to engage directly with you who build and manage the core infrastructure that underpins our financial markets. As you know, we meet at a significant moment for the evolution of the EU clearing landscape. We witness market structure changes, as well as the emergence of new players, new product offerings and new service models trying to challenge the status quo. The EU is looking into the creation of a true Savings and Investment Union. At the same time, geopolitics are impacting the global financial ecosystem. And of course, this happens while the EU CCP regulatory framework is being significantly re-shaped with the implementation of EMIR 3. This backdrop presents both real challenges and real opportunities for those engaged in central clearing across Europe. A Supervisory Framework at a Crossroads At the heart of these developments is ESMA and the CCP Supervisory Committee. Over the past five years, the CCP Supervisory Committee has been pursuing diligently a dual role in: (i) working to enhance supervisory convergence across the EU and promoting a common supervisory approach to EU CCPs based on the CCP single rulebook. Through joint assessments, stress-testing, and peer reviews,...