European Securities and Markets Authority consultation on detailed rules for the EMIR
ESMA published on 16 February 2012 a discussion paper on “Draft Technical Standards for the Regulation on OTC Derivatives, CCPs and Trade Repositories” (better known as the European Market Infrastructure Regulation). ESMA’s press release is here.
The discussion paper:
“…follows the structure of EMIR, with the first section focusing on OTC derivatives and in particular the clearing obligation, risk mitigation techniques for contracts not cleared by a CCP and exemptions to certain requirements. The second part focuses on CCP requirements, where a number of provisions need to be specified through technical standards. The third part deals with trade repositories and in particular the content and format of the information to be reported to trade repositories, the con-tent of the application for registration to ESMA and the information to be made available to the relevant authorities.”
Responses to the discussion paper are invited by 19 March 2012.
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