ESMA proposes a delay in mandatory clearing for firms with limited volumes of OTC derivatives

21 July 2016

On 13 July 2016 ESMA issued a consultation paper proposing a two-year delay to EMIR OTC derivatives clearing for financial counterparties (FCs) and alternative investment funds (AIFs) that trade limited volumes of uncleared derivatives.

A copy of this can be found here. If this proposal is brought into effect this would delay the first clearing obligation for those entities from 21 June 2017 until 21 June 2019.