Politics & Regulation

ESMA consults on OTC derivatives rules


The European Securities and Markets Authority has launched a consultation on rules to improve the functioning of the over-the-counter derivatives market.

The directive comes under the European Market Infrastructure Regulation (EMIR) and the consultation period for technical standards relating to the regulation of over-the-counter derivatives, central counterparties and trade repositories closes on 5 August 2012. The final draft standards are intended to be submitted to the EU Commission for endorsement by 30 September 2012.

EMIR aims to achieve this by reducing risks via the use of central clearing and risk mitigation techniques, increasing transparency via trade repositories and ensuring sound