Dry and EMIR: Difference between pages
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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 large contingent credit exposures that may arise as a consequence. | |||
The Regulation achieves this object 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 == | == See also == | ||
* [[ | * [[AIFMD]] | ||
* [[ | * [[Buy-side firm]] | ||
* [[CCP]] | |||
* [[CFTC]] | |||
* [[Clearing]] | |||
* [[CSD]] | |||
* [[Derivative instrument]] | |||
* [[Dodd-Frank]] | |||
* [[Dual reporting]] | |||
* [[ESMA]] | |||
* [[European Union]] | |||
* [[FATCA]] | |||
* [[FC]] | |||
* [[Infrastructure]] | |||
* [[Know-your-customer]] | |||
* [[Legal entity identifier]] | |||
* [[Margining]] | |||
* [[MiFID]] | |||
* [[MiFID II]] | |||
* [[NFC]] | |||
* [[OTC]] | |||
* [[Pension Scheme Arrangement]] | |||
* [[RTS]] | |||
* [[SEC]] | |||
* [[SSR]] | |||
* [[Trade repository]] | |||
* [[UTI]] | |||
* [[WGMR]] | |||
===Other links=== | ===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/9344 EMIR edges near, The Treasurer, September 2013] | |||
[http://www.treasurers.org/node/9406 Frequently Asked Questions for non financial counterparties - updated December 2013] | |||
[http://www.treasurers.org/node/9873 Companies hope for relief from EMIR, Sally Percy, The Treasurer, February 2014] | |||
[https://www.treasurers.org/ACTmedia/EMIR_Consulation_Response_August_2015.pdf ACT's EMIR Consultation Response, August 2015] | |||
===References=== | |||
<references /> | |||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:Corporate_financial_management]] | |||
[[Category:Risk_frameworks]] | |||
Revision as of 20:11, 9 February 2019
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:
- 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
- CCP
- CFTC
- Clearing
- CSD
- Derivative instrument
- Dodd-Frank
- Dual reporting
- ESMA
- European Union
- FATCA
- FC
- Infrastructure
- Know-your-customer
- Legal entity identifier
- Margining
- MiFID
- MiFID II
- NFC
- OTC
- Pension Scheme Arrangement
- RTS
- SEC
- SSR
- Trade repository
- UTI
- WGMR
Other links
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
