ESMA reveals Brexit derivatives relief amid contract uncertainty

The European Securities and Markets Authority (ESMA) has unveiled regulatory relief for EU counterparties that have non-cleared derivatives agreements with UK entities. The measures aim to help alleviate increased costs that may kick in due to a no-deal Brexit.

  • By Costas Mourselas
  • 08 Nov 2018

The relief targets non-cleared derivatives contracts that otherwise would not be subject to the clearing obligation under European Markets Infrastructure Regulation (EMIR). EMIR compels certain derivatives to be centrally cleared, but some contracts entered into before a phase-in period, are not required to do so. 

Novating a derivative contract to ...

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