Financial Market
Types and consequences of indirect clearing arrangements for CCP-cleared OTC emissions trades under EMIR
Thursday, 05 July 2012 07:40

 

Emission market participants should prepare for clearing with CCP OTC emissions trades under circumstances specified by EMIR. In order to comply with the clearing obligation, a counterparty must become a clearing member, a client or establish indirect clearing arrangements. Determination of the most beneficial option is made sometimes difficult by the fact that these notions and their implications are often confused. ESMA Consultation Paper has shed, however, some light on these issues.

 

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Clearing thresholds calculating under EMIR draft Regulation and ESMA Draft Technical Standards
Monday, 02 July 2012 07:00

 

When one of the clearing thresholds for an asset class is reached as determined in EMIR, the counterparty is considered as exceeding the clearing thresholds and therefore is subject to the relevant EMIR requirement for all classes of OTC derivative contracts and not only for those pertaining to the class of OTC derivatives where the clearing threshold is exceeded.

But how is the counterparty trading with the non-financial participant (NFC) going to be made aware that the NFC has or has not yet exceeded the clearing threshold?

 

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