imported>Doug Williamson |
imported>Administrator |
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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 in 2012, although certain of its requirements came into force after a period of delay.
| | The risk of adverse changes in foreign exchange rates from the time a foreign currency transaction is entered into, until it is settled. |
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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 contingent large credit exposures that may arise as a consequence. 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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| | Also known as transaction risk or transactional exposure. |
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| == See also == | | == See also == |
| * [[ESMA]] | | * [[Currency risk]] |
| * [[MiFID]] | | * [[Economic exposure]] |
| * [[Trade repository]] | | * [[Foreign exchange risk]] |
| * [[Legal entity identifier]] | | * [[Translation exposure]] |
| * [[AIFMD]]
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| * [[CCP]]
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| * [[CSD]]
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| * [[FC]]
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| * [[NFC]]
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| * [[RTS]]
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| * [[UTI]]
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| * [[SEC]]
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| * [[CFTC]]
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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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| ==References==
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| <references />
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| [[Category:Corporate_financial_management]]
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| [[Category:Risk_frameworks]]
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