This white paper discusses the implications for financial markets of the proposed technical standards for implementing EMIR, which include:
- Defining the framework for the application of the clearing obligation
- Specifying the risk mitigation techniques for over-the-counter (OTC) derivatives that are not centrally cleared
- Laying down the requirements for the application of exemptions to non-financial counterparties and intragroup transactions
- Establishing a comprehensive set of organisational, conduct of business and prudential requirements for central counterparties
- Specifying the details of derivatives transactions that need to be reported to trade repositories
- Defining the data that must be made available to relevant authorities by trade repositories.