Consultation Paper : Clearing Obligation under EMIR (no. 2)
With the overarching objective of reducing systemic risk, EMIR introduces the obligation to clear certain classes of OTC derivatives in central clearing houses (CCPs) that have been authorised (European CCPs) or recognised (third-country CCPs) under its framework.Following a first consultation paper on the IRS classes to be subject to central clearing, in this second paper ESMA defined the CDS classes to be subject to the clearing obligation based on the analysis of all CDS classes which are currently offered for clearing by European CCPs. ESMA’s draft RTS propose to subject the following class: untranched European index CDS, for two indices. The clearing obligation will take effect following a phased implementation depending on the types of counterparties.
|Year of publication:||
|Institutions:||European Securities and Markets Authority|
|Subject:||Finanzderivat | Financial derivative | Finanzkrise | financial crisis | Risiko | risk|
49 Seiten p.
|Type of publication:||Book / Working Paper|
|Classification:||Public finance. Taxation ; Individual Reports, Studies ; Europe. General Resources|
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