EMIR: an overview of the new framework
Abstract
Purpose
The purpose of this paper is to explain the European Market Infrastructure Regulation, known as EMIR, adopted on July 4, 2012 as the Regulation on OTC Derivatives, Central Counterparties and Trade Repositories.
Design/methodology/approach
The paper explains EMIR's clearing and reporting requirements, who is within the scope of those requirements, who is a financial and non‐financial counterparty, the clearing thresholds, the clearing and reporting obligations, when those obligations will begin, the risk mitigation obligations, and a range of potential questions anyone trading in OTC derivatives should consider.
Findings
EMIR requires that all standardized OTC derivatives contracts be cleared through a central counterparty and reported to a trade repository.
Originality/value
The paper provides practical guidance by experienced financial services lawyers.
Keywords
Citation
Aron, T., Lalone, N. and Jackson, C. (2013), "EMIR: an overview of the new framework", Journal of Investment Compliance, Vol. 14 No. 2, pp. 57-60. https://doi.org/10.1108/JOIC-05-2013-0016
Publisher
:Emerald Group Publishing Limited
Copyright © 2013, Authors