ESMA LIBRARY

The ESMA Library contains all ESMA documents. Please use the search and filter options to find specific documents.
74
DOCUMENTS

REFINE YOUR SEARCH

Sections

Type of document

Your filters
Vacancy X Final Report X Speech X Post Trading X MiFID - Secondary Markets X Audit X
Reset all filters
Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
28/09/2015 2015-ESMA-1464 Annex II Annex II- CBA- draft RTS and ITS on MiFID II and MiFIR Final Report PDF
5.07 MB
10/11/2015 2015/1629 Final Report Clearing Obligation IRS other currencies Final Report PDF
838.64 KB
13/11/2015 2015/1645 Final report EMIR Article 9 RTS ITS Final Report PDF
280.02 KB
11/12/2015 2015/1858 Final Report- Draft ITS under MiFID II Final Report PDF
972.8 KB
01/03/2016 2016/328 Possible systemic risk and cost implications of interoperability arrangements Final Report PDF
521.89 KB
04/04/2016 2016/461 Final report on temporary exemption for ETDs under MiFID II Final Report PDF
619.46 KB
05/04/2016 2016/429 Review of Article 26 of RTS No 153/2013 with respect to MPOR for client accounts Final Report PDF
217.11 KB

Reasons for publication
This final report proposes amending Article 26 of the Commission Delegated Regulation No 153/2013 with regard to regulatory technical standards (RTS) on requirements for central counterparties (CCP) on the time horizons for the liquidation period which European Securities and Markets Authority (ESMA) has drafted under the Regulation (EU) No 648/2012 of the European Parliament and Council on Over-The-Counter (OTC) derivatives, central counterparties and trade repositories (EMIR).

In relation to the draft amended technical standards, ESMA consulted stakeholders on two occasions: the first consultation on a Discussion Paper (DP) was conducted from 27 August to 30 September 2015; the second, on the consultation paper (CP) including the proposed draft RTS was carried out from 14 December 2015 to 1st February 2016.

ESMA received a strong support from the respondents to the CP on the proposed amendment introducing the possibility for EU CCPs to margin on a one day gross basis for clients’ accounts. The responses to the consultation confirm that a one day gross account structure provides a sufficient level of protection to the CCPs and to the clients.

On the proposed conditions linked to this type of account, the majority of the respondents are of the view that they are needed to ensure the safety of the CCPs. Some clarifications or slight amendments have been introduced following the comments received, in particular on intraday margins calls and on entities belonging to the same group as clearing members.

Contents
This paper provides explanations on the draft regulatory technical standards amending the Commission Delegated Regulation No 153/2013 with regard to RTS on requirements for CCP. This report explains the rationale and the scope of the review of Article 26 of RTS No 153/2013 carried out by ESMA. It summarizes the answers received following the publication of the consultation paper and it provides the explanations on whether and how the concerns expressed by stakeholders have been reflected in the final draft RTS.
Annexed to this final report are the legislative mandates related to the draft RTS (Annex I), the ESMA cost-benefit-analysis (Annex II) and the draft RTS (Annex III).

Next Steps
Following the submission of the amended draft RTS to the European Commission, it has three months to decide whether to endorse ESMA’s draft RTS.

05/04/2016 2016/422 Final Report RTS on access aggregation and comparison of TR data under Art.81 of EMIR Final Report PDF
365.72 KB
29/04/2016 2016/658 EU-wide CCP Stress test Report 2015 Final Report PDF
1.77 MB
04/05/2016 2016/653 Final Report on RTS on reporting obligations under Article 26 of MiFIR Final Report PDF
231.35 KB
26/05/2016 2016/734 Key note speech for the City week 2016 – Verena Ross, 9 May, London , Speech PDF
180.15 KB
26/05/2016 2016/725 Draft RTS on indirect clearing arrangements under EMIR and MiFIR , , Final Report PDF
740.71 KB
13/06/2016 2016/945 Speech for the DSGV Kapitalmarktsymposium- Verena Ross, 10 June 2016, Berlin Speech PDF
275.69 KB
24/06/2016 2016/1002 Speech Banque de France conference on CCPs – Steven Maijoor, Paris, 24 June 2016 Speech PDF
271.88 KB
30/09/2016 2016/1421 MiFID II: Status Quo und weitere Entwicklung , Speech PDF
209.64 KB
10/10/2016 2016/1451 Final Report- Guidelines on transaction reporting, order record keeping and clock synchronisation under MiFID II , Final Report PDF
388.3 KB
14/11/2016 2016/1565 Final Report on the clearing obligation for financial counterparties with a limited volume of activity , Final Report PDF
478.72 KB
23/01/2017 ESMA71-844457584-329 ESMA Chair keynote address at PRIME Finance Conference , , Speech PDF
281.45 KB
22/03/2017 ESMA71-99-372 ECON Hearing on CCPs Recovery & Resolution- Opening Statement by Steven Maijoor Speech PDF
156.73 KB
06/04/2017 ESMA70-872942901-17 Final report on Guidelines on the calibration of circuit breakers and the publication and reporting of trading halts under MiFID II Final Report PDF
887.97 KB