EMIR is being amended, and the changes (known as EMIR
Refit) could be in force as early as the end of May
2019.
This briefing considers the impact of EMIR Refit on
over-the-counter derivative contracts, from the perspective of both
financial counterparties and non-financial counterparties. In
particular, it sets out the calculation and notification
obligations that will go live on the date that EMIR Refit comes
into force.
EMIR IS BEING AMENDED
The European Market Infrastructure Regulation
(EMIR) is being amended, and the changes (known as
EMIR Refit) could be in force as early as the end
of May 2019.
EMIR Refit is generally regarded as a positive development for
smaller derivatives users and relaxes some of the current EMIR
obligations. However, market participants (including infrequent
users of derivatives) will need to be ready to calculate their
volumes of over-the-counter (OTC) derivatives
contracts and, if necessary, prepare for regulatory
