Tag: EMIR Indirect Clearing RTS
Indirect Clearing: In Search of One Template To Rule Them All
Background EMIR introduced a clearing obligation in relation to “OTC derivative contracts” of any class that has been declared subject to a clearing obligation and which are transacted between particular types of counterparty[1]. MiFIR[2] extended the scope of the clearing obligation to all derivative transactions concluded on a regulated market. There are three basic ways […]
ESMA makes time to introduce left hand to right
In a rather last-minute bid for consistency among its own flagship pieces of legislation, ESMA has informed the EC that the final draft MiFIR RTS on exchange-traded derivatives will be delayed pending a re-write of its EMIR counterpart. Steven Maijoor writes to Jonathan Hill, his opposite number at the EC, “In the interest of preserving […]