Głowacki Law Firm

OTC derivatives - Page 2
European Union Electricity Market Glossary

 

 

 

 

 

Questions and Answers on MiFID II and MiFIR transparency topics, ESMA70-872942901-35

Non-equity transparency

 

Question 2 [Last update: 03/10/2017]

 

a) Which deferral regime applies to investment firms trading OTC?

 

b) Is it relevant in what Member State the relevant instrument is traded or admitted to trading on a trading venue?

 

Answer 2

 

a) The deferral regime applicable to OTC trades is determined by the deferral regime applicable in the Member State where the investment firm that has to make the transaction public is established. The location of the APA through which a transaction is made public is not relevant. Where it is for an EU branch to make a transaction public, the deferral regime applicable in the Member State where that branch is located should apply.

 

b) No, for OTC transactions only the deferral regime applicable to the investment firm that has to make a transaction public is relevant.

 

 

 

 

 

 

IMG 0744

    Documentation    

 

 

 

 

 

 

OTC Derivatives Market Reforms Twelfth Progress Report on Implementation, Financial Stability Board, 29 June 2017

 

EMIRArticle 2(7)

 

Commission Delegated Regulation (EU) 2016/2020 of 26 May 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council on markets in financial instruments with regard to regulatory technical standards on criteria for determining whether derivatives subject to the clearing obligation should be subject to the trading obligation, Recital 2

 

Commission Delegated Regulation (EU) 2017/104 of 19 October 2016 amending Delegated Regulation (EU) No 148/2013 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories with regard to regulatory technical standards on the minimum details of the data to be reported to trade repositoriesField 15 of the Table 2 (Common data)

 

Risk Assessment on the temporary exclusion of exchange traded derivatives from Articles 35 and 36 of MiFIR of exchange traded derivatives from Articles 35 and 36 of MiFIR, 04 April 2016, ESMA/2016/461

 

Commission Implementing Decision (EU) 2017/1857 of 13 October 2017 on the recognition of the legal, supervisory and enforcement arrangements of the United States of America for derivatives transactions supervised by the Commodity Futures Trading Commission as equivalent to certain requirements of Article 11 of Regulation (EU) No 648/2012 of the European Parliament and Council on OTC derivatives, central counterparties and trade repositories

 

Questions and Answers on MiFID II and MiFIR transparency topics, ESMA70-872942901-35

 

Technical Guidance, Harmonisation of the Unique Transaction Identifier, Committee on Payments and Market Infrastructures, Board of the International Organization of Securities Commissions, February 2017, p. 6

 

Bank for International Settlements, Triennial Central Bank Survey - OTC derivatives positions at end-June 2016, Table 1, Monetary and Economic Department, 11 December 2016

 

EU derivatives markets ─ a first-time overview, ESMA Report on Trends, Risks and Vulnerabilities No. 2. 2017, ESMA50-165-421, p. 8 

 

 

 

 

 

clip2

    Links    

 

 

 

 

 

 

Physically settled commodity derivatives in MiFID II

 

C6 energy derivatives contracts

 

Financial instruments

 

Derivatives

 

Commodity

 

Energy commodity contract

 

 

 

 

 

 

 

 

 

 

 

 

 



Last Updated on Thursday, 02 November 2017 22:09
 

Search

TwitterFacebookLinkedin
Copyright © 2009 - 2019 Michal Glowacki. All rights reserved.
The materials contained on this website are for general information purposes only and are subject to the disclaimer