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ESMA publishes EMIR implementation actions on CCP regime

03 July 2013  |  1883 views  |  0

The European Securities and Markets Authority (ESMA) as required under the European Markets Infrastructure Regulation (EMIR) has published:


A report containing guidelines and recommendations for establishing consistent, efficient and effective assessments of interoperability arrangements

The guidelines and recommendations apply to national competent authorities
(NCAs) and define what NCAs should analyse in assessing an interoperability
arrangement.  They focus on the risks that might arise from these arrangements
and outline the areas on which central counterparties (CCPs) should focus, and
which NCAs should verify, to mitigate those risks.  The guidelines and
recommendations applied from 10 June 2013


Regulatory technical standards (RTS) on colleges for CCPs

The RTS address the organisation and governance of supervisory colleges that must be set up to scrutinise the application of a CCP for authorisation under EMIR.  The provisions also address: issues relating to participation in the college; exchange of information among regulatory authorities; conditions relating to delegation and sharing of tasks by members of the college; and how to determine which are the most relevant currencies (this is used to decide which central banks should
participate in each college).  The RTS will enter into force on the
twentieth day following publication in the Official Journal of the European


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