Regulation No 648/ 2012 of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (‘EMIR’) introduces a new recognition procedure for central counterparties (CCPs) that are established outside the European Union (EU) but wish to provide services to market participants that are established in the Union. The purpose of this memo is to specify how this recognition procedure will be implemented . . .

http://ec.europa.eu/internal_market/financial-markets/docs/derivatives/130513_equivalence-procedure_en.pdf