On March 20, ESMA published an updated version of its questions and answers document (Q&A) on the implementation of EMIR (the Regulation on over-the-counter (OTC) derivatives, central counterparties (CCPs) and trade repositories (TRs)) (Regulation 648/2012). The updated Q&A includes a table of questions on pages 6 and 7, setting out which questions have been updated as of March 20, 2014, and to which article(s) in EMIR the updated questions relate. They include:
- Intragroup transactions;
- Notional amounts;
- Risk mitigation techniques for OTC derivative contracts not cleared by a CCP;
- Reporting of outstanding positions following the entry into force of EMIR (backloading); and
- Various issues relating to TR reporting requirements. ESMA Q&A.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
