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ARTICLE · 03 JUNE 2026

UK EMIR – Clearing Threshold For Commodity Derivatives Increased

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The Financial Conduct Authority has confirmed a significant increase to the clearing threshold for commodity derivatives under UK EMIR, raising it to €6 billion from the original €3 billion level.

United KingdomFinance and Banking
Edward Karsten
Edward Karsten
Will Sykes
Will Sykes

Since our previous note summarising proposed changes to the clearing thresholds under EU EMIR and UK EMIR, the FCA has issued FCA Handbook Notice 141 which confirms that the clearing threshold for commodity derivatives under UK EMIR has been increased to €6bn (instead of the proposed €5bn) from the original level of €3bn. This increase is effective from 29 May 2026. 

Given current high commodity prices, this change will be welcomed by the market. Market participants may want to calculate whether, due to this change, they now fall below the clearing thresholds and therefore benefit from reduced regulatory compliance requirements.

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