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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
14/06/2019 ESMA70-151-2392 Letter to EC- EMIR Refit- hedging exemption in the calculation of the clearing thresholds Letter PDF
117.26 KB
27/04/2018 ESMA70-151-1336 Letter to Commission regarding exemption from financial obligations under Articles 41 and 42 of EMIR Letter PDF
130.66 KB
30/01/2017 ESMA70-708036281-19 Letter to European Commission- EMIR Review and Sanctioning Powers , Letter PDF
265.24 KB
01/02/2016 2016/175 Letter to COM Letter PDF
80.4 KB
13/11/2015 2015/1674 Cover letter to COM- EMIR Technical Standards Letter PDF
28.51 KB
05/10/2015 2015/1498 Letter to European Commission re RTS on indirect clearing under EMIR and under MiFIR , Letter PDF
92.96 KB
18/06/2015 2015/943 ESMA letter to European Commission regarding CSRD Level 2 Measures Letter PDF
43.43 KB
13/02/2015 EC-15-639 European Commission letter regarding EMIR clearing obligation on Interest Rate Swaps Letter PDF
183.74 KB
19/12/2014 EC 18/12/2014 Letter from European Commission- Amended draft RTS on clearing obligation for IRS Letter PDF
555.82 KB

EC 18/12/2014 annex

21/11/2014 2014/1385 ESMA letter to European Commission regarding EMIR clearing obligation Letter PDF
34.57 KB
06/10/2014 20141002 CSDR mandates Letter PDF
43.4 KB
30/09/2014 2014/1179 Letter to Commission Barnier- Postponement of reports due by ESMA under Article 85.3 of EMIR Letter PDF
30.37 KB
21/08/2014 ODRG/1/2014 ODRG letter to FSB on barriers to reporting to trade repositories Letter PDF
1.27 MB
31/07/2014 Markt/G3/GW/bh ARES(2014) EC letter to ESMA on classification of financial instruments Letter PDF
60.84 KB

The European Commission has written to ESMA regarding the definition of a financial instrument relating to foreign currency (FX contract).

17/07/2014 JC/2b D(2014) 2392454 European Commission response to ESMA letter regarding frontloading requirement under EMIR Letter PDF
71.29 KB
24/06/2014 2014/686 Letter to Commissioner Barnier re draft Regulatory Technical Standards under the CRA3 Regulation Letter PDF
25.37 KB
08/05/2014 2014/483 Letter to the European Commission- Frontloading requirement under EMIR Letter PDF
121.56 KB

This letter to the European Commission advances ESMA's intention to ease certain frontloading requirement under the European Markets Infrastructure Regulation (EMIR).  Frontloading is a term that refers to the clearing obligation under EMIR, which will oblige counterparties to centrally clear certain derivative trades through clearing houses (CCP). ESMA believes that the frontloading procedure creates uncertainties for derivatives end-users while the exact terms of the clearing obligation has not been defined which could have adverse impacts on risk hedging and financial stability. Therefore, ESMA informs the European Commission that it intends to establish the frontloading requirement in a manner that will minimise uncertainty. The clearing requirement began to apply with the first authorisation of an EU-based CCP which happened on 18 March 2014. Following the first CCP approval, EMIR requires ESMA to draft within six months technical standards which will define the derivatives classes subject to central clearing.  However, compulsory central clearing will only start with the entry-into-force of the technical standards which creates the need to ‘frontload’ those derivate trades since 18 March 2014.

20/03/2014 Ares(2014)513399 EC response on classification of financial instruments Letter PDF
194.08 KB

European Commission response to ESMA's letter to Michel Barnier, Commissioner for Internal Market and Services regarding the classificiation of financial instruments as derivatives sent on 14 February. ESMA Letter 2014/184

14/02/2014 2014/184 Letter to Commissioner Barnier on classification of financial instruments as derivatives Letter PDF
223.48 KB
30/01/2014 2014/83 Letter to Jonathan Faull (EC) regarding Technical Advice (Japan) Letter PDF
49.66 KB