ALFI comments on ESMA’s consultation on its technical standards for the Regulation on OTC Derivatives, CCPs and Trade Repositories
27 August 2012 | Statements and Position Papers
The European Securities and Markets Authority (ESMA) launched on June 25th a consultation on its technical standards under the Regulation on OTC derivatives, central counterparties and trade repositories (EMIR), which is aimed at improving the functioning of OTC derivatives markets in the European Union (EU).
EMIR aims to achieve this by reducing risks via the use of central clearing and risk mitigation techniques, increasing transparency via trade repositories (TR) and ensuring sound and resilient central counterparties (CCPs). ALFI welcomed the European Securities and Markets Authority Consultation Paper and welcomed the opportunity to provide its comments and expertise to the ESMA work stream on this issue.
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