ESMA published two documents on 1 October 2014 as the implementation of mandatory clearing of certain over-the-counter (OTC) derivatives gathers pace.
- ESMA published final draft Regulatory Technical Standards (RTS) on the clearing of interest rate derivatives (the Interest Rate Clearing RTS) under the European Market Infrastructure Regulation 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR); and
- ESMA also published a consultation paper on the clearing of foreign exchange derivatives (FX Derivatives CP).
ESMA is staggering the implementation of the clearing obligation by categorising types of derivatives and counterparties.
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