imported>Doug Williamson |
imported>Doug Williamson |
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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 process by which market participants obtain information about the prices at which counterparties are willing to buy or sell specific financial instruments. |
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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.
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| The Regulation achieves this object by three significant requirements for:
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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
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| == See also == | | == See also == |
| * [[AIFMD]] | | *[[Circuit breaker]] |
| * [[Buy-side firm]] | | *[[Electronic communication network]] |
| * [[CCP]] | | *[[Price formation]] |
| * [[CFTC]] | | *[[Price transparency]] |
| * [[Clearing]]
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| * [[CSD]]
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| * [[Derivative instrument]]
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| * [[Dodd-Frank]]
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| * [[Dual reporting]]
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| * [[ESMA]]
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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]]
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| * [[Legal entity identifier]]
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| * [[Margining]]
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| * [[MCT]]
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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]]
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| ===Other links===
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| [http://www.treasurers.org/otc ACT briefing note: European regulation of OTC derivatives: Implications for non-financial companies, April 2013 ]
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| [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]
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| ===References===
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| <references />
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| [[Category:Accounting,_tax_and_regulation]]
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| [[Category:Corporate_financial_management]]
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| [[Category:Risk_frameworks]]
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