EMIR: Difference between revisions
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''Financial markets - regulation - infrastructure.'' | ''Financial markets - regulation - infrastructure.'' | ||
The European Market Infrastructure Regulation | The European Market Infrastructure Regulation (EMIR) became law within the European Union in 2012, although certain of its requirements came into force only after a period of delay. | ||
The objective of EMIR is to reduce the risks posed to financial systems from the vast web of [[over the counter]] (OTC) derivative transactions and the large contingent credit exposures that may arise as a consequence. | The objective of EMIR is to reduce the risks posed to financial systems from the vast web of [[over the counter]] (OTC) derivative transactions and the large contingent credit exposures that may arise as a consequence. | ||
The Regulation | The Regulation is designed to achieve this objective by three significant requirements for: | ||
#Central clearing and margining of standardised OTC derivatives (with certain exemptions for Non-Financial Counterparties) | #Central clearing and margining of standardised OTC derivatives (with certain exemptions for Non-Financial Counterparties) | ||
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* [[AIFMD]] | * [[AIFMD]] | ||
* [[Buy-side firm]] | * [[Buy-side firm]] | ||
* [[ | * [[Central counterparty]] (CCP) | ||
* [[ | * [[Commodity Futures Trading Commission]] (CFTC) | ||
* [[Clearing]] | * [[Clearing]] | ||
* [[ | * [[Central securities depository]] (CSD) | ||
* [[Derivative instrument]] | * [[Derivative instrument]] | ||
* [[Dodd-Frank]] | * [[Dodd-Frank]] | ||
* [[Dual reporting]] | * [[Dual reporting]] | ||
* [[ | * [[European Securities and Markets Authority]] (ESMA) | ||
* [[European Union]] | * [[European Union]] | ||
* [[FATCA]] | * [[FATCA]] | ||
| Line 34: | Line 34: | ||
* [[MiFID II]] | * [[MiFID II]] | ||
* [[NFC]] | * [[NFC]] | ||
* [[ | * [[Over the counter]] (OTC) | ||
* [[Pension Scheme Arrangement]] | * [[Pension Scheme Arrangement]] | ||
* [[ | * [[Regulation]] | ||
* [[ | * [[Regulatory Technical Standard]] (RTS) | ||
* [[ | * [[Securities and Exchange Commission]] (SEC) | ||
* [[Trade repository]] | * [[Trade repository]] | ||
* [[UK EMIR]] | * [[UK EMIR]] | ||
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==External | ==External links == | ||
[https://www.fca.org.uk/markets/uk-emir UK EMIR - Financial Conduct Authority] | *[https://finance.ec.europa.eu/capital-markets-union-and-financial-markets/financial-markets/post-trade-services/derivatives-emir_en EMIR - European Union] | ||
*[https://www.fca.org.uk/markets/uk-emir UK EMIR - Financial Conduct Authority] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category:Risk_frameworks]] | [[Category:Risk_frameworks]] | ||
Latest revision as of 19:59, 26 July 2024
Financial markets - regulation - infrastructure.
The European Market Infrastructure Regulation (EMIR) became law within the European Union in 2012, although certain of its requirements came into force only after a period of delay.
The objective of EMIR is to reduce the risks posed to financial systems from the vast web of over the counter (OTC) derivative transactions and the large contingent credit exposures that may arise as a consequence.
The Regulation is designed to achieve this objective by three significant requirements for:
- Central clearing and margining of standardised OTC derivatives (with certain exemptions for Non-Financial Counterparties)
- Reporting of all derivative transactions to a trade repository
- Risk mitigation measures for all non cleared derivatives including collateral exchange and confirmation and reconciliation procedures
See also
- AIFMD
- Buy-side firm
- Central counterparty (CCP)
- Commodity Futures Trading Commission (CFTC)
- Clearing
- Central securities depository (CSD)
- Derivative instrument
- Dodd-Frank
- Dual reporting
- European Securities and Markets Authority (ESMA)
- European Union
- FATCA
- FC
- Infrastructure
- Know-your-customer
- Legal entity identifier
- Margining
- MiFID
- MiFID II
- NFC
- Over the counter (OTC)
- Pension Scheme Arrangement
- Regulation
- Regulatory Technical Standard (RTS)
- Securities and Exchange Commission (SEC)
- Trade repository
- UK EMIR
- UTI
- WGMR
