ESMA seeks comments on EMIR clearing thresholds

The European Securities and Markets Authority (ESMA) has launched a discussion paper on EMIR clearing thresholds.

It is seeking feedback from market participants and counterparties trading OTC derivatives.

In the report, ESMA hopes to collect stakeholder views on the effectiveness and proportionality of EMIR clearing thresholds, as well as the regime as a whole. The regulator wants to explore its effectiveness compared to similar third-country regimes.

The report, which is based on a preliminary analysis of EMIR Trade Repository data collected before the withdrawal of the UK from the EU, and presents key metrics on financial and non-financial counterparties and the volume of OTC derivative trades captured under the current regime.

Once responses have been collected by its 17th January 2022 deadline, ESMA will consider the responses it receives and continue to review with more recent data.

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