EUROPEAN UNION: ESMA Issues Feedback Statement on the Central Clearing of Non-Deliverable Forwards

Wednesday February 4 2015

The European Securities and Markets Authority (ESMA) has published a feedback statement on its consultation on the clearing obligation for non-deliverable forwards (NDF) which it had to conduct under the European Markets Infrastructure Regulation (EMIR). EMIR requires ESMA to draft technical standards regarding the clearing obligation of different derivative classes.

Based on the feedback received, ESMA is not proposing a clearing obligation on the NDF classes at this stage. ESMA believes that more time is needed to appropriately address the main concerns raised during the consultation.

Click here for Feedback Statement.

Click link above for further details.