ESMA LIBRARY

The ESMA Library contains all ESMA documents. Please use the search and filter options to find specific documents.
30
DOCUMENTS
Your filters
Technical Advice X Letter X SMSG Advice X
Reset all filters
Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
11/11/2019 ESMA70-151-2650 Final report on TA on EMIR_2_2_CCP fees Technical Advice PDF
606.91 KB
11/11/2019 ESMA70-151-2682 Final Technical advice on Tiering Criteria under EMIR 2.2 Technical Advice PDF
544.57 KB
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
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
05/10/2015 2015/1498 Letter to European Commission re RTS on indirect clearing under EMIR and under MiFIR , Letter PDF
92.96 KB
13/02/2015 EC-15-639 European Commission letter regarding EMIR clearing obligation on Interest Rate Swaps Letter PDF
183.74 KB
21/11/2014 2014/1385 ESMA letter to European Commission regarding EMIR clearing obligation Letter PDF
34.57 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
17/07/2014 JC/2b D(2014) 2392454 European Commission response to ESMA letter regarding frontloading requirement under EMIR Letter PDF
71.29 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.

30/01/2014 2014/123 ESMA Technical advice on equivalence of Japan for CCP II- Commodities CCPs Technical Advice PDF
3.33 MB

ESMA delivers second set of advice on EMIR equivalence Following its technical advice published on 9 September 2013, the European Securities and Market Authority (ESMA) has published a supplement to its advice to the European Commission on the equivalence of the regulatory regime for central counterparties (CCPs) of Japan with the European Markets Infrastructure Regulation (EMIR). This supplement to the September 2013 Final report sets out ESMA’s advice to the European Commission is in respect of the equivalence between the Japanese regulatory regime for commodity CCPs and the regulatory regime for CCPs under EMIR. ESMA proposes conditional equivalence As for ESMA’s advice to the Commission in respect of Japan for CCPs which clear transactions relating to securities, currencies, interest rates, credit, weather, GDP and other indices, ESMA considers that the Japanese regulatory regime for commodity CCPs contains legal provisions and involves supervision and enforcement similar to that of EMIR. The Commission is expected to use ESMA’s technical advice to prepare possible equivalence decisions. Where it adopts such a decision, certain provisions of EMIR may be disapplied in favour of equivalent third-country rules. In particular, ESMA may recognise within the EU a CCP which is authorised outside the EU. The different pieces of advice are available on ESMA’s website.

20/12/2013 2013/SMSG/018 Advice on Discussion Paper – The Clearing Obligation under EMIR SMSG Advice PDF
46.94 KB
20/12/2013 2013/SMSG/017 Advice on Consultation Paper – Draft Regulatory Technical Standards on contracts having a direct, substantial and foreseeable effect within the Un-ion and non-evasion of provisions of EMIR SMSG Advice PDF
27.43 KB
15/11/2013 2013/1655 ESMA reply to Commission letter on the reporting of exchange traded derivatives under EMIR Letter PDF
42.73 KB
02/10/2013 2013/1383 Technical advice on third country regulatory equivalence under EMIR Letter PDF
44.23 KB
26/09/2013 DG Markt MJ/acg (2013) 3265823 European Commission letter regarding Draft Technical Standard on the Cross-Border Application of EMIR Letter PDF
82.86 KB
03/09/2013 2013/1160 Technical advice on third country regulatory equivalence under EMIR – Hong Kong Technical Advice PDF
3.57 MB