UK:
Clearing Getter Clearer
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ESMA published two documents on 1 October 2014 as the
implementation of mandatory clearing of certain over-the-counter
(OTC) derivatives gathers pace.
- ESMA published final draft Regulatory Technical Standards (RTS)
on the clearing of interest rate derivatives (the Interest Rate
Clearing RTS) under the European Market Infrastructure Regulation
648/2012 on OTC derivatives, central counterparties and trade
repositories (EMIR); and
- ESMA also published a consultation paper on the clearing of
foreign exchange derivatives (FX Derivatives CP).
ESMA is staggering the implementation of the clearing obligation
by categorising types of derivatives and counterparties.
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