EUROPEAN UNION: ESMA Consults on Review of EMIR Standards Relating to CCP Client Accounts

Thursday August 27 2015

The European Securities and Markets Authority (ESMA) has opened a public consultation on the review of Article 26 of its Regulatory Technical Standards (153/2013) under the European Market Infrastructure Regulation (EMIR) which deals with CCPs’ client accounts.

The discussion paper seeks stakeholders’ views on Article 26 of the Commission Delegated Regulation No 153/2013 including a regulatory technical standard for CCPs on the time horizons for the liquidation period, which ESMA has drafted under the Regulation No 648/2012 of the European Parliament and Council on Over-The-Counter (OTC) derivatives, central counterparties (CCPs) and trade repositories (EMIR).

The report explains in Section 2 the rationale and the scope of the review of Article 26 of RTS No 153/2013. Section 3 raises questions seeking all relevant stakeholders’ view on whether and how Article 26 of RTS No 153/2013 could be revised.

The consultation is aimed at:

• central counterparties (CCPs);
• their clearing members; and
• financial and non-financial counterparties accessing CCP services as clients of clearing members.

ESMA is seeking stakeholder’s feedback until 30 September 2015.

Click on the link above for further details.