EMIR overview

EMIR is the European Market Infrastructure Regulation (EU) No 648/2012 of the European Parliament and of the Council on 4 July 2012 on OTC derivatives, central counterparties and trade repositories. It entered into force on 16 August 2012 with the objective of bringing greater transparency along with cost efficiency to the global OTC derivatives market.

The regulation includes requirements for reporting of derivative contracts and implementation of risk management standards. It establishes common rules for central counterparties and trade repositories.

EMIR is an EU regulation and monitoring will be undertaken by European Securities and Markets Authority (“ESMA”) as well as all national competent authorities. ESMA supervises REGIS-TR in its role as a governing body for EMIR. In line with the provision from the regulation, REGIS-TR will make the necessary information available to the regulators entitled to have access.