Events listed in European Market Infrastructure Regulation (EMIR)
[ESMA91-372-2811 ] Opinion on CCP backtesting
ID 25349
ESMA published its Opinion on CCP back testing requirements under Article 49 EMIR and Article 49 of DelReg (EU) 153/2013. Back testing is a crucial aspect of risk management in financial markets and is used to assess the reliability and adequacy of margin models employed by CCPs. The document differentiates between two key types of back tests: core model back testing and margin adequacy ...
ESMA consults on possible changes to annual fees for Tier 1 Third country central ...
ID 25297
ESMA has initiated a public consultation regarding potential revisions to the annual fees charged to Tier 1 third country CCPs under EMIR. These proposed changes are part of an effort to ensure that the annual fees imposed on Tier 1 CCPs are more proportionate and reflective of differences in size and activity among these CCPs. ESMA suggests allocating annual fees among Tier 1 CCPs ...
ESRB Letter to the European Parliament – background information on the ...
ID 25226
The European Systemic Risk Board, ESRB, has published an open letter addressed at the European Parliament, the European Commission, and the Council to provide further insights into the active account requirement (AAR) under proposed EMIR 3.0. To recall, the active account requirement would require EU market participants to maintain active accounts at EU central counterparties (CCPs) for central clearing purposes for derivative contracts identified ...
[ESMA70-152-348 ] List of third-country CCPs recognised to offer services and ...
ID 25150
ESMA has published an updated list of third-country CCPs which are recognized to offer clearing services and perform activities in the EU in accordance with Article 25 of EMIR. The list also includes a table of classes of financial instruments by each counterparty which are covered by the CCP’s recognition. Please note that the inclusion of South Africa on the AML blacklist requires **[ESMA ...
Clearing in der EU reduziert Risiken
ID 24974
Der BVI positioniert sich entschieden für eine Verlagerung des Derivate-Clearings in die EU. Ziel ist es, die Abhängigkeit von Drittstaaten zu minimieren und somit die Finanzstabilität in der EU zu erhöhen. Diese Ansicht des BVI stärkt die bereits vorherrschenden Meinungen der EZB, EU-Kommission und der ESMA. In einem Bericht der ESMA von Dezember 2021 (eventid=13955) wurde betont, dass die potenziellen Systemrisiken durch englische Clearingstellen ...
Trade Associations Call for Deletion of Active Account Proposal
ID 24870
Several prominent trade associations – including EFAMA, BFPI Ireland, EACB, FIA EPTA, Federation of the Dutch Pension Funds, Finance Denmark, Nordic Securities Association, AIMA, ICI Global, FIA, and ISDA – have collectively advocated for the removal of the proposed AAR. These trade associations have on the one hand voiced **their support for measures aimed at enhancing the attractiveness of EU clearing and capital markets, ...
Trade associations call for deletion of active account proposal in EMIR 3.0
ID 24867
A joint statement has been released by EFAMA and several major European trade associations regarding the proposed active account requirement under EMIR 3.0 by the EC. These associations express their opposition to the active account requirement, which would mandate all market participants to maintain active accounts at EU CCPs for clearing specific systemic derivatives contracts. Instead of supporting this requirement, the associations advocate for ...
[ESMA74-362-2683 ] EMIR REFIT validation rules reconciliation tolerances and ...
ID 24860
ESMA has published validation rules to be used by TRs to verify the completeness and accuracy of the reported data and to determine whether or not the data reported from various counterparties match with one another. The Excel file also includes a template to be used by TRs to notify NCAs of reporting errors and omissions.
[ESMA70-152-348 ] List of third-country CCPs recognised to offer services and ...
ID 24379
ESMA has published an updated list of third-country CCPs which are recognized to offer clearing services and perform activities in the EU in accordance with Article 25 of EMIR. The list also includes a table of classes of financial instruments by each counterparty which are covered by the CCP’s recognition. Please note that the inclusion of the United Arab Emirates on AML blacklist (eventid=19706) ...
ESMA proposes revised technical standards on anti-procyclicality margin measures
ID 24283
ESMA has published a Final Report proposing revised technical standards on APC margin measures for CCPs. APC measures seek to reduce procyclicality in financial markets – procyclicality describing the phenomenon where financial variables, such as margins, amplify economic cycles in both directions. The aim of these measures is to harmonize policies and procedures related to the selection, assessment, and review of APC margin measures. ...