ALFI published its 1st edition of the EMIR/OTC Derivatives FAQ document.
This document was prepared by ALFI's EMIR / OTC Derivatives FAQ working group. The FAQ working group gathered members of the following EMIR/OTC Derivatives sub-working groups:
- Legal Questions & Contractual Arrangements
- Executions & Clearing with CCP
- Collateral Requirements
- Valuation and Trade Repositories
- EMIR Impact on Pooling Structures
The working group comprises representatives of asset managers, management companies, securities service firms, audit firms, law firms, and document and information management firms.
This document contains the working group's answers to the industries frequently asked questions about these nine regulatory and implementing technical standards that complement the obligations defined under the Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties (CCPs) and trade repositories (the so-called European Markets Infrastructure Regulation - EMIR) adopted on 4 July and entered into force on 16 August 2012.
The answers are not necessarily definitive and they might not be suitable for every circumstance. This document is not meant to be an industry standard or a guide to best practice but it represents the view from a group of market participants. The FAQ has not been validated by any regulator. This document must not be relied upon as advice and is provided without any warranty of any kind and neither ALFI nor its members who contributed to this document accept any liability whatsoever for any action taken in reliance upon it.
This document may be amended without prior notice to incorporate new material and to amend previously published material where the working group considers it appropriate. ALFI will publish amended copies of this document to its members, showing marked-up changes from the immediately preceding copy.
The titles used in this document are references to the relevant recitals, chapters, sections and articles of the EU Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties (CCPs) and trade repositories and associated guidelines and consultation papers regarding the technical standards.
ALFI's members are welcome to submit a question to the working group, which will review it and consider whether to include it in a future copy of this document. Please send your questions to email@example.com. We will acknowledge receipt of each question but we regret that we may be unable to reply individually to each one.
Download the document by clicking here.