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ESMA proposes inclusion of ETDs in EMIR interoperability arrangements 

July 3, 2015

FTSE Global Markets

The European Securities and Markets Authority (ESMA) has issued its final report on interoperability arrangements between EU-based clearing houses (CCPs) required under the European Markets infrastructure Regulation (EMIR) and related guidelines and recommendations. In its report, ESMA says it wants to extend the EMIR provisions related to interoperability arrangements to exchange-traded derivatives (ETDs). A further extension to OTC derivatives will be assessed at a later stage.

The report provides a mapping and a description of the current interoperability arrangements between EU CCPs for different product types, for example, EU equities, EU government bonds and EU ETDs.

In addition, it examines the reasons for extending the current EMIR framework to derivatives taking into account the corresponding costs and benefits to then conclude on the opportunity of such extension and its scope, that is, restricted to ETDs and not yet to OTC derivatives.

Read more: FTSE Global Markets

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