ESMA has written a letter to the European Commission, European Parliamen & the Council of the European Union, expressing concerns about the lack of transparency in the EU regarding OTC derivatives, particularly single-name CDS.
They believe that the current transparency requirements in MiFIR are limited and need to be strengthened.
ESMA suggests broadening the scope of instruments subject to transparency requirements, providing more real-time transparency, and implementing a streamlined deferral regime. ESMA also emphasizes the need for a globally coordinated approach to ensure consistent rules.
Other Features
CDS
Derivatives
OTC derivatives
post trading
securities
standard
trading
transparency
Date Published: 2023-06-02
Regulatory Framework: Markets in Financial Instruments Regulation (MiFIR)
Regulatory Type: opinion
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