ESMA signals flex on EMIR clearing, trading obligations

Trading room broker trader adobe stock AS 230x150
By GlobalCapital
31 Jan 2019

The European Securities and Markets Authority (ESMA) has indicated that smaller counterparties and other reporting entities should be afforded some wriggle room over the implementation of new clearing and trading obligations. While deadlines for technical compliance are looming, recent amendments to EU regulation should imminently remove uncertainty over the new requirements.

On Thursday, ESMA said some small financial counterparties would face challenges to meet the June 21 deadline to start central counterparty (CCP) clearing and trade some of their over-the-counter (OTC) derivative contracts at trading venues as part of the implementation of European Markets Infrastructure Regulation (EMIR). The EMIR ...

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