Tuesday April 15 2014
News Source: Global Exchanges
Focus: Other
Type: General
Country: European Union
Link: http://www.esma.europa.eu/system/files/jc_cp_2014_03_cp_on_risk_mitigation_for_otc_derivatives.pdf
The European Securities and Markets Authority (ESMA) have published a Consultation Paper (CP) regarding draft regulatory technical standards on risk-mitigation techniques for OTC-derivative contracts not cleared by a CCP under Article 11(15) of Regulation (EU) No 648/2012.
The European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA) invite comments on all proposals put forward in the CP.
These draft regulatory technical standards (RTS) consider the minimum international standards on margin requirements for non-centrally cleared derivative transactions issued by the Basel Committee for Banking Supervision (BCBS) and the International Organisation of Securities Commissions (IOSCO) on September 2013 2. The international standard outlines the principles behind margin requirements, which to the extent possible have been transposed into the RTS. This will help ensure global consistency.
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