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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
15/02/2016 2016/288 Discussion Paper Benchmarks Regulation , Consultation Paper PDF
1017.02 KB
02/06/2016 2016/773 Discussion Paper on the Distributed Ledger Technology Applied to Securities Markets , Consultation Paper PDF
573.86 KB
27/08/2015 2015/1295 Discussion Paper on the review of Article 26 of RTS 153-2013 Consultation Paper PDF
266.36 KB
11/03/2016 2016/356 Discussion paper- Draft RTS and ITS under SFTR Consultation Paper PDF
1.93 MB
29/09/2017 70-145-105 Draft Guidelines on non-significant benchmarks , Consultation Paper PDF
557.29 KB
03/06/2020 ESMA50-164-3342 Draft Guidelines on Outsourcing to Cloud Service Providers Consultation Paper PDF
390.7 KB
17/07/2013 2013/892 Draft Regulatory Technical Standards on contracts having a direct, substantial and foreseeable effect within the Union and non-evasion of provisions of EMIR Consultation Paper PDF
1.37 MB

Draft Regulatory Technical Standards on contracts having a direct, substantial and foreseeable effect within the Union and non-evasion of provisions of EMIR

30/06/2015 2015/1065 Draft Regulatory Technical Standards on the CSD Regulation-The Operation of the Buy-in Process Consultation Paper PDF
388.58 KB
09/03/2020 ESMA70-156-1464 Draft Regulatory Technical Standards under the Benchmarks Regulation Consultation Paper PDF
649.44 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.

03/10/2019 ESMA70-151-2672 Draft technical advice on commercial terms for providing clearing services under EMIR (FRANDT) Consultation Paper PDF
500.35 KB
20/03/2014 2014/299 Draft Technical Standards for the Regulation on improving securities settlement in the European Union and on central securities depositories (CSD) Consultation Paper PDF
919 KB

ESMA is calling for public feedback on possible content to draft technical standards on matters such as settlement discipline, CSD registration and requirements, including confirmation rules (acceptance or rejection of terms in good time before the intended settlement date) for trading venues and investment firms, as well as access to CSDs by other CSDs, participants and other market infrastructures. ESMA has a mandate to draft technical standards on more than 30 aspects under CSDR. ESMA will consider all comments received by 22 May 2014. A public hearing will take place on April 14th at ESMA in Paris, from 13h30 to 17h. As provided for by the ESMA Regulation, a full public consultation will be conducted on the draft technical standards before they are submitted to the European Commission (EC). Therefore, following this DP and on the basis of the relevant input received, ESMA will finalise its proposed draft technical standards, that will be included in a consultation paper. The date of publication of such a consultation paper and the commenting period will depend on the date of publication of the CSDR in the Official Journal and the final deadline for ESMA to deliver the draft RTS and ITS to the EC. Responding to this paper ESMA invites comments on all matters in this paper and in particular on the specific questions summarised in Annex IV. Comments are most helpful if they: indicate the specific question to which the comment relates; respond to the question stated; contain a clear rationale; and describe any alternatives ESMA should consider. ESMA will consider all comments received by 22 May 2014. All contributions should be submitted via ESMA’s website. Publication of responses All contributions received will be published following the close of the consultation period, unless you request otherwise. Please clearly and prominently indicate in your submission any part you do not wish to be publically disclosed. A standard confidentiality statement in an email message will not be treated as a request for non-disclosure. A confidential response may be requested from us in accordance with ESMA’s rules on access to documents. We may consult you if we receive such a request. Any decision we make is reviewable by ESMA’s Board of Appeal and the European Ombudsman. Data protection Information on data protection can be found at www.esma.europa.eu under the heading ‘Disclaimer’. Who should read this paper All interested stakeholders are invited to respond to this discussion paper. In particular, responses are sought from CSDs, CSD users or linked entities, market infrastructures and investors.

16/02/2012 2012/95 Draft Technical Standards for the Regulation on OTC Derivatives, CCPs and Trade Repositories Consultation Paper PDF
776.04 KB
The Regulation of the European Parliament and Council on OTC Derivatives, CCPs and trade repositories (EMIR) introduces provisions to improve transparency and reduce the risks associated with the OTC derivatives market and establishes common rules for central counterparties (CCPs) and for trade repositories (TRs).  It has been identified that common rules are required in the case of CCPs in view of the shift of risk management from a bilateral to a central process for OTC derivatives and in the case of trade repositories because of the increase in information that needs to be reported to them. The Regulation delegates or confers powers to the Commission to adopt regulatory technical standards (RTS) and implementing technical standards (ITS) on a number of areas. This discussion paper covers the draft RTS and ITS which ESMA is required to develop. Following this discussion paper and on the basis of the relevant input received, ESMA will prepare draft technical standards to be included in the consultation paper which will most likely be published around summer 2012.
25/06/2012 2012/379 Draft Technical Standards for the Regulation on OTC Derivatives, CCPs and Trade Repositories Consultation Paper PDF
2.12 MB

This consultation paper includes the Regulatory and Implementing Technical Standards ESMA is required to draft under the Regulation of the European Parliament and Council on OTC derivatives, central counterparties and trade repositories (EMIR). It covers implementing measures for the application of the clearing obligation for risk mitigation techniques, exemptions for non-financial counterparties and intra-group transactions, requirements for CCPs and reporting and disclosure obligations for trade repositories. 

29/09/2016 2016/1406 Draft technical standards under the Benchmarks Regulation Consultation Paper PDF
1.67 MB
25/09/2015 2015/1463 ESMA Consultation Paper on ESEF , , Consultation Paper PDF
2.34 MB
02/04/2020 ESMA70-151-2823 ESMA Report to the European Commission on Central Clearing Obligations for PSA- No 1 , , Consultation Paper PDF
309.21 KB
20/02/2013 2013/219 ESMA’s Technical Advice to the Commission on Fees for Trade Repositories Consultation Paper PDF
586.97 KB
18/10/2013 2013/1292 ESMA’s Technical Advice to the Commission on procedural rules to impose fines on Trade Repositories Consultation Paper PDF
1.52 MB

The European Securities and Markets Authority (ESMA) is publishing this consultation paper to assist with the preparation of its Technical Advice to the European Commission on the procedural rules for imposing fines and periodic penalties on Trade Repositories. The Commission requested ESMA's advice on 29 April 2013 to assist it in formulating procedural rules by delegated act. (Annex I) The closing date for responses is 15 November 2013 and ESMA aims to provide its advice to the Commission by 31 December 2013.

20/12/2012 2012/852 Guidelines for establishing consistent, efficient and effective assessments of interoperability arrangements Consultation Paper PDF
445.22 KB