Difference between revisions of "EMIR"

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European Market Infrastructure Regulation<ref>http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2012:201:0001:0059:EN:PDF</ref> (EMIR) came into force as binding law within the European Union on 16th August 2012, although certain of its requirements came into force after a period of delay.
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The European Market Infrastructure Regulation<ref> http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2012:201:0001:0059:EN:PDF</ref> (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 contingent large credit exposures that may arise as a consequence.  The Regulation achieves this object by three significant requirements for:
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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.   
  
• Central clearing and margining of standardised OTC derivatives (with certain exemptions for Non-Financial Counterparties)
 
  
• Reporting of all derivative transactions to a trade repository
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The Regulation achieves this object by three significant requirements for:
  
Risk mitigation measures for all non cleared derivatives including collateral exchange and  confirmation and reconciliation procedures
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#Central clearing and margining of standardised OTC derivatives (with certain exemptions for Non-Financial Counterparties)
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#Reporting of all derivative transactions to a trade repository
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#Risk mitigation measures for all non cleared derivatives including collateral exchange and  confirmation and reconciliation procedures
  
  
 
== See also ==
 
== See also ==
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* [[AIFMD]]
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* [[Buy-side firm]]
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* [[CCP]]
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* [[CFTC]]
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* [[Clearing]]
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* [[CSD]]
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* [[Derivative instrument]]
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* [[Dodd-Frank]]
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* [[Dual reporting]]
 
* [[ESMA]]
 
* [[ESMA]]
* [[Trade repository]]
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* [[European Union]]
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* [[FATCA]]
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* [[FC]]
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* [[Infrastructure]]
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* [[Know-your-customer]]
 
* [[Legal entity identifier]]
 
* [[Legal entity identifier]]
* [[Dodd-Frank]]
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* [[Margining]]
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* [[MiFID]]
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* [[MiFID II]]
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* [[NFC]]
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* [[OTC]]
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* [[Pension Scheme Arrangement]]
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* [[RTS]]
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* [[SEC]]
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* [[SSR]]
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* [[Trade repository]]
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* [[UTI]]
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* [[WGMR]]
  
  
== Other links ==
 
[http://www.treasurers.org/otc ACT briefing note: European regulation of OTC derivatives: Implications for non-financial companies, April 2013 ]
 
  
[http://www.treasurers.org/node/9406 EMIR – frequently asked questions for non financial counterparties, ACT webinar September 2013]
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===Other links===
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[http://www.treasurers.org/otc European regulation of OTC derivatives: Implications for non-financial companies – ACT briefing note (Updated May 2014)]
  
 
[http://www.treasurers.org/node/9344 EMIR edges near, The Treasurer, September 2013]
 
[http://www.treasurers.org/node/9344 EMIR edges near, The Treasurer, September 2013]
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[http://www.treasurers.org/node/9406 Frequently Asked Questions for non financial counterparties - updated December 2013]
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[http://www.treasurers.org/node/9873 Companies hope for relief from EMIR, Sally Percy, The Treasurer, February 2014]
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[https://www.treasurers.org/ACTmedia/EMIR_Consulation_Response_August_2015.pdf ACT's EMIR Consultation Response, August 2015]
  
  
==References==
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===References===
 
<references />
 
<references />
  
[[Category:Capital_Markets_and_Funding]]
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[[Category:Accounting,_tax_and_regulation]]
[[Category:Managing_Risk]]
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[[Category:Corporate_financial_management]]
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[[Category:Risk_frameworks]]

Latest revision as of 16:14, 26 February 2020

The European Market Infrastructure Regulation[1] (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 achieves this object by three significant requirements for:

  1. Central clearing and margining of standardised OTC derivatives (with certain exemptions for Non-Financial Counterparties)
  2. Reporting of all derivative transactions to a trade repository
  3. Risk mitigation measures for all non cleared derivatives including collateral exchange and confirmation and reconciliation procedures


See also


Other links

European regulation of OTC derivatives: Implications for non-financial companies – ACT briefing note (Updated May 2014)

EMIR edges near, The Treasurer, September 2013

Frequently Asked Questions for non financial counterparties - updated December 2013

Companies hope for relief from EMIR, Sally Percy, The Treasurer, February 2014

ACT's EMIR Consultation Response, August 2015


References

  1. http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2012:201:0001:0059:EN:PDF