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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
05/11/2015 2015/1628 Consultation Paper on indirect clearing under EMIR and MiFIR Consultation Paper PDF
488.22 KB
05/11/2015 2015/1628/R Response form to CP on indirect clearing Consultation Paper DOCX
749.61 KB
11/12/2015 2015/1866 Consultation Paper on access, aggregation and comparison of TR data Consultation Paper PDF
330.99 KB
14/12/2015 2015/1867 Review of Article 26 of RTS No 153/2013 with respect to MPOR for client accounts Consultation Paper PDF
227.6 KB
14/12/2015 2015/1867R Response Form to CP on review of Article 26 of RTS 153-2013 Consultation Paper DOCX
749.43 KB
11/05/2015 2015/807. Consultation Paper No 4 on the Clearing Obligation under EMIR Consultation Paper PDF
1.41 MB
13/07/2016 2016/1125 Consultation Paper on the clearing obligation for financial counterparties with a limited volume of activity Consultation Paper PDF
738.84 KB
30/09/2016 2016/1409 Draft RTS and ITS under SFTR and amendments to related EMIR RTS , Consultation Paper PDF
5.63 MB

The European Securities and Markets Authority (ESMA) is publishing this Consultation Paper as part of its consultations on Level 2 measures under the Securities Financing Transactions Regulation (SFTR) as well as certain amendments to the Level 2 measures under EMIR in order to take into account legal developments as well as to ensure consistency, where relevant, between the frameworks of both regulations

Contents

Section 1 is the executive summary of the document. Section 2 explains the background to our proposals. Section 3 includes detailed information on the procedure and criteria for registration as TR under SFTR. Section 4 details the use of internationally agreed reporting standards, the reporting logic under SFTR and the main aspects of the structure of an SFT report. Section 5 covers the requirements regarding transparency of data and aggregation and comparison of data. Section 6 details the access levels of authorities. Section 7 contains the tables of fields, for the relevant types of SFTs, as well as a summary of all the questions.

Next Steps

ESMA will consider the feedback it received to this document in the fourth quarter of 2016. The final report and the draft technical standards will be submitted to the European Commission for endorsement by the end of Q1/beginning Q2 2017.

15/12/2016 2016/1661 Consultation Paper- Draft technical standards on data to be made publicly available by TRs under Article 81 of EMIR Consultation Paper PDF
740.22 KB
19/12/2016 2016/1672 Technical advice to the Commission on fees for TRs under SFTR and on certain amendments of for fees under EMIR Consultation Paper PDF
709.68 KB

Reasons for publication

On 15 January 2016 the European Securities and Markets Authority (ESMA) received a formal request from the European Commission (Commission) to provide technical advice to assist the Commission in formulating a Regulation on fees for Trade Repositories (TRs) under SFTR by a delegated act.

Contents

The present report contains nine sections. Section 1 refers to the Executive Summary of the report. Section 2 explains the background to our proposals. Section 3 outlines the ESMA’s expected costs. Section 4 establishes the general approach for the determination of fees under EMIR and SFTR. Section 5 explains how ESMA will manage surpluses and deficits under EMIR and SFTR. Section 6 points out the rationale and computation of TRs fees for registration and extension of registration under SFTR. Sections 7 and 8 present the supervision fees under EMIR and SFTR and recognition fees under SFTR. Section 9 refers to the conditions of payment and reimbursement and, finally, Section 10 addresses the instances where delegation to NCAs takes place. Annex I contains the summary of the questions posed by ESMA and Annex II includes the Commission’s mandate to ESMA.

The amendments to fees under EMIR that are consulted in this document are required in order to ensure level –playing field with the ESMA’s fees to TRs under SFTR.

Next Steps

ESMA will consider the feedback it receives to this consultation in Q1 2017 and expects to publish and submit a final report of the technical advice to the European Commission for endorsement by end of Q1/beginning of Q2 of 2017.

11/03/2016 2016/356 Discussion paper- Draft RTS and ITS under SFTR Consultation Paper PDF
1.93 MB
29/04/2016 2016/665 Q&A on ESMA’s EU-wide stress tests for CCPs Q&A PDF
269.98 KB
31/05/2016 2016/732 Guidelines on participant default rules and procedures under CSDR , Consultation Paper PDF
450.56 KB

The European Securities and Markets Authority (ESMA) under Article 41(4) of Regulation (EU) No 909/2014 of the European Parliament and of the Council on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation No 236/2012 (CSDR) may issue guidelines in accordance with Article 16 of Regulation (EU) No 1095/2010 in order to ensure consistent application of Article 41 of CSDR relating to participant default rules and procedures.

Contents

Section 2 contains information on the background and mandate, Section 3 contains an analysis of the scope and content of the proposed guidelines, while Section 4 contains the proposed guidelines.

Annex I sets out a summary of the questions contained in this paper and Annex II includes a high level cost-benefit analysis for the guidelines.

Next Steps

ESMA will consider the feedback it will receive to this consultation with a view to finalising the guidelines by Q4 2016.

02/06/2016 2016/773 Discussion Paper on the Distributed Ledger Technology Applied to Securities Markets , Consultation Paper PDF
573.86 KB
19/03/2021 ESA 2021 12 Joint ESA QAs BM Q&A PDF
219.07 KB
13/12/2019 ESMA43-370-12 Consultation Paper on CCP penalties Consultation Paper PDF
508.22 KB
23/12/2020 ESMA43-370-274 CP TA on rules of procedure to impose penalties on DRSPs Consultation Paper PDF
361.39 KB
27/05/2019 ESMA70-145-1145 Consultation paper on Guidelines on periodic information and notification of material changes to be submitted to ESMA by Trades Repositories , Consultation Paper PDF
545.53 KB
08/01/2018 ESMA70-151-1013 Consultation Paper on Draft Guidelines on Anti-Procyclicality Margin Measures for CCPs  Consultation Paper PDF
318.1 KB
02/02/2018 ESMA70-151-1179 Questions and Answers ESMA CCP Stress Test Q&A PDF
694.47 KB