Consultation paper Clearing Obligation no2 CDS

Consultation paper Clearing Obligation no2 CDS

from 11 July 2014 to 18 September 2014


With the overarching objective of reducing systemic risk, EMIR introduces the obligation to clear certain classes of OTC derivatives in central clearing houses (CCPs) that have been authorised (European CCPs) or recognised (third-country CCPs) under its framework.Following a first consultation paper on the IRS classes to be subject to central clearing, in this second paper ESMA defined the CDS classes to be subject to the clearing obligation based on the analysis of all CDS classes which are currently offered for clearing by European CCPs. ESMA’s draft RTS propose to subject the following class: untranched European index CDS, for two indices. The clearing obligation will take effect following a phased implementation depending on the types of counterparties.Responding to this paperThe European Securities and Markets Authority (ESMA) invites responses to the specific questions listed in the consultation paper on the clearing obligation no.2.

Please use this “form to reply”
Naming protocol - In order to facilitate the handling of stakeholders responses please save your document using the following format:
ESMA_ClearingObligation_no2_NAMEOFCOMPANY_NAMEOFDOCUMENT: e.g.if the respondent were ESMA, the name of the reply form would be ESMA_ClearingObligation_no2_ESMA_REPLYFORM or ESMA_ClearingObligation_no2_ESMA_ANNEX1
Details on EMIR and the clearing obligation can be found at the following link:

Document available for this Consultation
11/07/20142014/800Consultation paper Clearing Obligation no2 CDS


Activity Institution Download
Managed Funds Association
CME Group
Asset Management EFAMA
Asset Management EFAMA
Asset Management AFG
Asset Management Amundi
Asset Management The Asset Management Group of the Securities Industry and Financial Markets Association
Asset Management Alternative Investment Management Association (AIMA)
Asset Management Union Asset Management Holding AG
Asset Management Investment Management Association
Banking UBS AG
Banking German Banking Industry Committee / Deutsche Kreditwirtschaft
Banking ABI - Italian Banking Association
Banking Intesa Sanpaolo S.p.A.
Banking European Banking Federation
Banking Deutsche Bank AG
Banking French Banking Federation (FBF)
Banking International Swaps and Derivatives Association, and FIA Europe
Government, Regulatory and Enforcement ESRB
Investment Services ASSOSIM
Investment Services AMAFI
Investment Services BVI
Others LCH.Clearnet Group
Others Markit Group Ltd.
Others European Federation of Energy Traders (EFET)
Others Fitch Solutions Ltd.
Others Commodity Markets Council - Europe
Others European Association of CCP Clearing Houses (EACH)
Regulated markets, exchanges & trading systems Federation of European Securities Exchanges