The European Commission has today published a questionnaire about the European Market Infrastructure Regulation, or EMIR, which is a centrepiece of the legislation introduced in the wake of the financial crisis in order to render financial markets safer and more stable. EMIR requires standard derivative contracts to be cleared through central counterparties (CCPs) and introduces an obligation to report derivative contracts to trade repositories. The regulation was adopted in 2012, following commitments made by world leaders at the G-20 Pittsburg Summit in 2009. Today’s review, which is mandated under EMIR (Article 85(1)) will enable the European Commission to take stock of market participants’ experience in implementing the regulation.
More information via press release: http://europa.eu/rapid/press-release_IP-15-5014_en.htm?locale=en
