On 4 December 2024, the Official Journal of the European Union
published two pivotal legislative updates to the European Market
Infrastructure Regulation (EMIR 3.0),
introducing new rules for clearing services intended at
strengthening the EU clearing landscape.
These changes are expected to have significant implications for
market participants and regulators alike.
1. Regulation (EU) 2024/2987
Regulation (EU) 2024/2987 was adopted on 27 November 2024 and
introduces amendments to three existing frameworks:
- Regulation (EU) No 648/2012 (EMIR 3.0),
- Regulation (EU) No 575/2013 (CRR), and
- Regulation (EU) 2017/1131 (MMFR).
Entry into force: Regulation (EU) 2024/2987
takes effect on 24 December 2024, which is 20 days after its
publication in the Official Journal.
