ESMA published the responses to EMIR consultation

21 March 2012

Among the respondents, there are stock exchanges, asset managers, financial services end-users and banks. It has been identified that common rules are required in the case of CCPs in view of the shift of risk management from a bilateral to a central process for OTC derivatives.

The Regulation of the European Parliament and Council on OTC Derivatives, CCPs and trade repositories (EMIR) introduces provisions to improve transparency and reduce the risks associated with the OTC derivatives market, and establishes common rules for central counterparties (CCPs) and for trade repositories (TRs). The Regulation delegates or confers powers to the Commission to adopt regulatory technical standards (RTS) and implementing technical standards (ITS) on a number of areas. This discussion paper covers the draft RTS and ITS which ESMA is required to develop.

Link to the full list of responses

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