RTS

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On July 20, the European Securities and Markets Authority (ESMA) published an updated version of its technical reporting instructions relating to transaction reporting under the Markets in Financial Instruments Regulation (MiFIR).
Continue Reading ESMA Updates Technical Reporting Instructions on MiFIR Transaction Reporting

On October 4, the European Commission (EC) adopted a delegated regulation (Delegated Regulation) containing regulatory technical standards (RTS) on risk mitigation techniques for uncleared over-the-counter derivatives, made under the European Market Infrastructure Regulation (EMIR).
Continue Reading European Commission Adopts Delegated Regulation on Risk Mitigation Techniques Under EMIR

On August 2, the EU Directorate-General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA) published an addendum (Addendum) to draft regulatory technical standards (draft RTS) on margin requirements for uncleared over-the-counter derivatives, made under the European Market Infrastructure Regulation (EMIR). The Addendum clarifies Articles 34 and 36 of the draft RTS (which relate to application timing) and inserts a missing formula into Annex III of the draft RTS. DG FISMA notes in the Addendum that the European Commission (EC) intended for the “first wave of initial margin requirements” to apply one month after the draft RTS goes into effect. DG FISMA, however, felt that this intention was unclear in the draft RTS and that the amendments set out in the Addendum are necessary.
Continue Reading European Commission Publishes Addendum to Draft RTS on Margin Requirements for Uncleared OTC Derivatives Under EMIR