The European Market Infrastructure Regulation (“EMIR”) entered into force on 16 August 2012, with the aim of increasing stability in the Over The Counter (“OTC”) derivatives markets in the EU.
- Reporting obligation for OTC derivatives;
- Clearing obligation for eligible OTC derivatives;
- Measures to reduce counterparty credit risk and operational risk for bilaterally cleared OTC derivatives;
- Common rules for central counterparties (CCPs) and for trade repositories;
- Rules on the establishment of interoperability between CCPs.