European Market Infrastructure Regulations – June 2012
OTC Derivatives Reform
On 25th June, the European Securities and Markets Authority (ESMA) published its draft proposals for improving the functioning of the derivatives markets in the European Union. The European Markets Infrastructure Regulations (EMIR) aim to reduce risk through the use of sound and resilient central clearing firms, increase transparency through mandatory trade notification mechanisms and reduce counterparty risk through appropriate risk mitigation techniques.
This members’ update is for general information only and should not be regarded as a substitute for tax, legal or other professional advice. Such advice should be taken before acting on or taking steps in relation to matters referred to in this document.Share