ESMA consults on active account requirements under EMIR 3
On 20 November, the European regulator ESMA published a consultation paper on the requirements that a so-called 'Active Account' of financial and non-financial counterparties with a European central counterparty must meet. This follows from the review of the European Market Infrastructure Regulation (EMIR 3). This EU Regulation 2024/2987 has been published in the Official Journal of the EU on 4 November. The AFM was involved in the creation of this consultation paper.
More efficient settlement of derivatives within the EU
The settlement of certain categories of derivatives should be carried out via the active account with a central counterparty in the European Union. The aim of the introduction of the active account is to reduce dependency on third-country central counterparties and to strengthen the efficiency of the EU derivatives settlement markets.
Open hearing in January
ESMA is organising an open hearing on this consultation topic. This will take place on Monday 20 January from 14:00 to 17:00 and can be attended online. Market parties can register via the ESMA website.Consultation runs until 27 January
The deadline for submitting input to ESMA is 27 January 2025. The input from market parties will be used to formulate the detailed elaboration in technical standards.More information
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