ESMA updates EMIR Q&A

16 February 2016

The Q&A clarifies how the clearing obligation should apply to swaps resulting from the exercise of a swaption, including during the frontloading period and the approach on frontloading that was adopted in the ESMA’s first RTS on the clearing obligation, which entered into force on 21 December 2015.

ESMA’s EMIR Q&As aim at providing clarity to market participants ahead of the various compliance deadlines resulting from the first RTS on the clearing obligation, which establish that certain OTC interest rate derivatives denominated in the G4 currencies (i.e. EUR, GBP, JPY and USD) shall be cleared by central counterparties.

Full Q&A

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