Consultation on the clearing obligation for financial counterparties with a limited volume of activity

Read responses
Type of event
Post Trading

ESMA invites comments on all matters in this paper and in particular on the specific questions summarised in Annex 1. Comments are most helpful if they:

1. respond to the question stated;

2. indicate the specific question to which the comment relates;

3. contain a clear rationale; and

4. describe any alternatives ESMA should consider.

ESMA will consider all comments received by 5 September 2016

All contributions should be submitted online at under the heading ‘Your input - Consultations’. 

Publication of responses

All contributions received will be published following the close of the consultation, 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 not to disclose the response is reviewable by ESMA’s Board of Appeal and the European Ombudsman.

Data protection

Information on data protection can be found at under the heading Legal Notice.

Who should read this paper

All interested stakeholders are invited to respond to this consultation paper. In particular, responses are sought from financial counterparties of OTC derivatives transactions which are subject to the clearing obligation.

Activity Institution Download
Asset Management Natixis Asset Management
  • 19362
Banking Wüstenrot hypoteční banka
  • 19375
Others EFET (European Federation of Energy Traders)
  • 19416
Central Counterparty (CCP) BME CLEARING, S.A.U.
  • 19418
Investment Services Commodity Markets Council Europe - CMCE
  • 19446
Banking FHB Bank Ltd.
  • 19472
Others Austrian Federal Economic Chamber Division Bank and Insurance
  • 19481
Others The Norwegian Securities Dealers Association
  • 19482
Banking Building Societies Association
  • 19489
Insurance and Pension Insurance Europe
  • 19507
Banking French Banking Federation (FBF)
  • 19536
Others Chatham Financial Corp.
  • 19539
Asset Management Citadel LLC
  • 19549
Central Counterparty (CCP) CME Group
  • 19561
Asset Management Norwegian Fund and Asset Management Association
  • 19622
Banking Close Brothers Limited
  • 19574
Insurance, pension & asset management German Insurance Association (GDV)
  • 19575
Asset Management Amundi
  • 19582
Asset Management VÖIG
  • 19583
Asset Management INVERCO
  • 19585
Investment Services Associazione Intermediari Mercati Finanziari - ASSOSIM
  • 19586
Others ABI - Italian Banking Association
  • 19589
Banking Deutscher Sparkassen- und Giroverband e. V.
  • 19590
Asset Management EFAMA
  • 19592
Asset Management River and Mercantile Group PLC
  • 19594
Others Swedish Securities Dealers Association
  • 19595
Central Counterparty (CCP) LCH
  • 19596
Others European Association of Corporate Treasurers
  • 19601
Central Counterparty (CCP) Eurex Clearing AG
  • 19602
Others FIA
  • 19605
Asset Management BVI
  • 19606
Others European Association of CCP Clearing Houses (EACH)
  • 19604
Asset Management AFG
  • 19608
Banking European Banking Federation
  • 19621
Asset Management The Investment Association
  • 19610
Banking Europeam Association of Co-operative Banks (EACB)
  • 19609
Investment Services ISDA
  • 19620
Government, Regulatory and Enforcement ESRB
  • 19659