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ESMA)has opened a public consultation on the review of Article 26 of its Regulatory Technical Standards (153/2013) under the European Market Infrastructure Regulation which deals with CCPs’ client accounts.
This discussion paper seeks stakeholders’ views on Article 26 of the Commission Delegated Regulation No 153/2013 including a regulatory technical standard for CCPs on the time horizons for the liquidation period, which ESMA has drafted under the Regulation No 648/2012 of the European Parliament and Council on Over-The-Counter derivatives, central counterparties and trade repositories .
The input from stakeholders will help ESMA in the review of this technical standard with respect to client accounts and, if necessary, develop a revised draft to be submitted to the European Commission for endorsement in the form of a Commission Delegated Regulation, i.e. a legally binding instrument directly applicable in all Member States of the European Union. One essential element in the development of draft technical standards is the analysis of the costs and benefits that those legal provisions will imply. Input in this respect and any supportive data will be highly appreciated and kept confidential where required.
ESMA is seeking stakeholder’s feedback until 30 September 2015.