Recital 6

(6)With regard to CCPs established in third countries that have applied for recognition so far, 17 CCPs have already been recognised by the European Securities and Markets Authority (ESMA). Of those, 6 CCPs from Canada, Mexico, South Africa and Switzerland, have been recognised after the adoption of Implementing Regulation (EU) 2015/2326. Furthermore, CCPs from South Korea and the United States may be recognised on the basis of Implementing Decisions (EU) 2015/2038 ⁷ and (EU) 2016/377 ⁸ , respectively. However, the remaining third-country CCPs are still awaiting recognition and the recognition process will not be completed by 15 June 2016. The markets served by those remaining CCPs could also be severely disrupted in case the transitional period for institutions having exposures to those CCPs is not extended for the same reasons as in case of the non-extension of the transitional periods for CCPs established in the Union.