question-mark-women

 

 

       The verification's subject   Yes             No       

 

Are your calculations carried out in each asset class separately?

 

 

 

 

 

If you have marked "no" in the table above, you are at risk of non-compliance. EMIR requires the positions' calculations versus clearing thresholds to be made in each asset class separately.

 

 

Use the table inserted below for verification.

 

 

   Derivatives' Asset Class    

Clearing Threshold Value  

  (EUR gross notional)

  Position above the threshold*    Position below the threshold* 

 

 credit

 

3 billion     

 

 equity

 

3 billion     

 

 interest rate

 

 1 billion    

 

foreign exchange

 

1 billion    

 

commodity and other

 

1 billion    

 

* each applicable field mark with "yes" or "no"

 

 

 

 

Answer

If you have inserted "yes" in any of the above fields it may mean (provided other conditions are fulfilled) that you must clear all your OTC derivatives positions with the CCP.

Pursuant to the EMIR rules, the clearing obligation applies to all OTC derivatives contracts concluded after the clearing threshold was exceeded, irrespective of the asset class to which these OTC derivative contracts belong to.

 

 

 

 

 

 

 

 

Check the next step for verification. 

 

 

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