European Market Infrastructure Regulation

Regulatory Fitness & Performance Program – “EMIR Refit"

 

Updated June 2023

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EMIR Overview

The European Market Infrastructure Regulation (“EMIR”) is a European Union (“EU”) and United Kingdom (“UK”) Regulation that, amongst other things, sets out requirements on reporting over-the-counter (“OTC”) derivative contracts and exchange-traded derivative contracts (“ETDs”) to Trade Repositories (“TRs”) and clearing standardised OTC derivative contracts and ETDs through authorised central counterparties (“CCPs”).

EMIR was introduced in 2012, and forms part of the EU's regulatory response to the financial crisis. The aim of the regulation was to increase transparency and reduce systematic risk in OTC derivative and ETD markets, as well as establishing robust business conduct standards for both CCPs and TRs.

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