The European Securities and Markets Authority (ESMA) has published today a consultation paper proposing to change the phase-in period for central clearing of OTC derivatives applicable to financial counterparties with a limited volume of derivatives activity under the European Market Infrastructure Regulation (EMIR). ESMA proposes to amend EMIR’s Delegated Regulations on the clearing obligation to prolong, by two years, the phase-in for financial counterparties with a limited volume of derivatives activity – those ones classified in Category 3 under EMIR Delegated Regulations.
More information via press release: https://www.esma.europa.eu/sites/default/files/library/2016-1126_press_release_cp_clearing_obligation.pdf
