Community
The European Securities and Markets Authority (ESMA) has published the responses received to its discussion paper aimed at developing regulatory technical standards relating to the obligation to centrally clear over-the-counter (OTC) derivatives under the European Markets Infrastructure Regulation (EMIR).
41 responses are published including 9 from asset management firms, 13 from banking organisations, 8 from insurance, pension and asset managers, 3 from investment services firms, 2 from legal and accountancy firms, 5 from regulated markets, exchanges and trading systems and 12 from others.
A joint ISDA and BBA response stresses that the readiness of CCPs and of market participants to clear derivatives in a way that does not generate unnecessary systemic risk is the most important issue when considering the implementation of the clearing obligation. EMSA’s initial focus should be on the application of mandatory clearing for credit and interest rate derivatives asset classes. They consider, amongst other things, that the:
Related Links:
Main page
http://www.esma.europa.eu/consultation/Discussion-Paper-Clearing-Obligation-under-EMIR#responses
BBA & ISDA
http://www.esma.europa.eu/system/files/isda_bba_response_to_esma_dp_on_clearing_obligation_12_septem.pdf
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James Strudwick Executive Director at Starknet Foundation
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Anoop Melethil Head of Marketing at Maveric Systems
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Alex Kreger Founder & CEO at UXDA
Jamel Derdour CMO at Transact365 - www.transact365.io
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