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|Date||Ref.||Title||Section||Type||Download||Info||Summary||Related Documents||Translated versions|
|26/05/2016||2016/725||Draft RTS on indirect clearing arrangements under EMIR and MiFIR||Guidelines and Technical standards, Post Trading, MiFID - Secondary Markets||Final Report||PDF
|29/04/2016||2016/658||EU-wide CCP Stress test Report 2015||Post Trading||Final Report||PDF
|07/04/2016||JC/2016/21||Final Draft RTS PRIIPs KID Report||Fund Management, Joint Committee||Final Report||PDF
|05/04/2016||2016/422||Final Report RTS on access aggregation and comparison of TR data under Art.81 of EMIR||Post Trading||Final Report||PDF
|05/04/2016||2016/429||Review of Article 26 of RTS No 153/2013 with respect to MPOR for client accounts||Post Trading||Final Report||PDF
Reasons for publication
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.
|17/03/2016||2016/348||Report on Trends, Risks and Vulnerabilities No.1, 2016||Risk Analysis & Economics - Markets Infrastructure Investors||Final Report||PDF
|01/03/2016||2016/328||Possible systemic risk and cost implications of interoperability arrangements||Post Trading||Final Report||PDF
|22/12/2015||2015/WP/2015/2||Working Paper No.2, 2015 “Monitoring systemic risk in the hedge fund sector”||Risk Analysis & Economics - Markets Infrastructure Investors||Final Report||PDF
The working paper proposes new measures for systemic risk in the hedge fund sector. These measures are based on the ability of hedge funds to influence (be influenced by) the performance trend of the entire hedge fund sector. The proposed measures display a high ability to identify periods of financial distress, are robust to modifications in the underlying econometric model and deliver an innovation in the monitoring of systemic risks in the fund industry.
|13/11/2015||2015/1645||Final report EMIR Article 9 RTS ITS||Post Trading||Final Report||PDF
|10/11/2015||2015/1629||Final Report Clearing Obligation IRS other currencies||Post Trading||Final Report||PDF
|14/09/2015||2015/1290||Report on Trends, Risks and Vulnerabilities No.2, 2015||Risk Analysis & Economics - Markets Infrastructure Investors||Final Report||PDF
|13/08/2015||2015/1251||EMIR Review Report no.1- Review on the use of OTC derivatives by non-financial counterparties||Post Trading||Final Report||PDF
|13/08/2015||2015/1252||EMIR Review Report no.2- Review on the efficiency of margining requirements to limit procyclicality||Post Trading||Final Report||PDF
|13/08/2015||2015/1253||EMIR Review Report no.3- Review on the segregation and portability requirements||Post Trading||Final Report||PDF
|13/08/2015||2015/1254||EMIR Review Report no.4- ESMA input as part of the Commission consultation on the EMIR Review||Post Trading||Final Report||PDF
|02/07/2015||2015/1067||Final report on the extension of the scope of interoperability arrangements||Post Trading||Final Report||PDF
|15/06/2015||2015/934||ESMA Annual Report 2014||Planning reporting budget||Annual Report||PDF
|05/05/2015||JC/2015/007||Joint Committee Report on Risks and Vulnerabilities in the EU Financial System||Risk Analysis & Economics - Markets Infrastructure Investors, Joint Committee||Final Report||PDF
|The Joint Committee of the European Supervisory Authorities (ESAs) published its fifth Report on Risks and Vulnerabilities in the EU Financial System. Overall, the report found that in the past six months, risks affecting the EU financial system have not changed in substance, but have further intensified. The EU’s economic performance improved slightly in early 2015, however the financial sector in general continues to be affected by a combination of factors such as low investment demand, economic uncertainty in the Eurozone and its neighbouring countries, a global economic slow-down and a low-interest rate environment. The main risks affecting the financial system remain broadly unchanged from those identified in the report’s previous edition, but have become more entrenched. The major risks include: • Low growth, low inflation, volatile asset prices and their consequences for financial entities; • Search for yield behaviour exacerbated by potential rebounds; • Deterioration in the conduct of business; and • Increased concern about IT risks and cyber-attacks.|
|11/03/2015||2015/527||ESMA Risk Dashboard No 1 2015||Risk Analysis & Economics - Markets Infrastructure Investors||Final Report||PDF
|11/03/2015||2015/526||Report on Trends, Risks and Vulnerabilities No 1 2015||Risk Analysis & Economics - Markets Infrastructure Investors||Final Report||PDF