The European Supervisory Authorities (ESAs) finalize margin related details for non-CCP cleared OTC derivatives under EMIR.
The group of regulatory agencies with authority over various parts of the financial system and markets throughout the EU, under the Joint Committee of the European Supervisory Authorities (EBA, EIOPA, ESMA) known together as the ESAs, have today published their final draft for Regulatory Technical Standards (RTS) which outline framework related to the European Market Infrastructure Regulation (EMIR).
The publications included several documents as part of the update, and are aimed to cover the risk mitigation approaches related to the Exchange of margin collateral to cover exposure that arises from non-centrally cleared derivatives (i.e. traded over-the-counter ) in OTC markets.
The ESAs also detailed the criteria related to intragroup exemptions and outlined the definitions of practical and legal impediments to the prompt transfer of funds between counterparties, according to the press release.
The standards were described to help increase the safety of the OTC derivatives markets in the EU, and provided technical standards across derivatives not centrally cleared by a CCP. Counterparties have to exchange both initial and variation margins, and other regulatory standards were outlined to help reduce counterparty credit risk. Among other instruments FX was noted, and as seen in an excerpt below:
Overall the goals of the initiatives are to also mitigate any potential systemic risk and ensure alignment with international standards, from a larger perspective. Eligible collateral for the exchange of margins, the criteria to ensure the collateral is sufficiently diversified and not subject to wrong-way risk, as well as the methods to determine appropriate collateral haircuts.
The many pages of legal jargon and technical details will need to be reviewed and analyzed by firms' compliance, legal, and outside consultants, with regard to requirements and any effect on related businesses.
Some of the major points relate to the diversification of collateral to avoid wrong-way risk, and how to determine collateral haircuts, and an outline of operational procedures and administration including agreement enforce-ability and timeframe for collateral exchanges. Lastly, the RTS draft covers how counterparties and the applicable authorities will handle the treatment of intragroup derivatives contracts. An excerpt from one document referenced in the release can be seen below:
The group of regulatory agencies with authority over various parts of the financial system and markets throughout the EU, under the Joint Committee of the European Supervisory Authorities (EBA, EIOPA, ESMA) known together as the ESAs, have today published their final draft for Regulatory Technical Standards (RTS) which outline framework related to the European Market Infrastructure Regulation (EMIR).
The publications included several documents as part of the update, and are aimed to cover the risk mitigation approaches related to the Exchange of margin collateral to cover exposure that arises from non-centrally cleared derivatives (i.e. traded over-the-counter ) in OTC markets.
The ESAs also detailed the criteria related to intragroup exemptions and outlined the definitions of practical and legal impediments to the prompt transfer of funds between counterparties, according to the press release.
The standards were described to help increase the safety of the OTC derivatives markets in the EU, and provided technical standards across derivatives not centrally cleared by a CCP. Counterparties have to exchange both initial and variation margins, and other regulatory standards were outlined to help reduce counterparty credit risk. Among other instruments FX was noted, and as seen in an excerpt below:
Overall the goals of the initiatives are to also mitigate any potential systemic risk and ensure alignment with international standards, from a larger perspective. Eligible collateral for the exchange of margins, the criteria to ensure the collateral is sufficiently diversified and not subject to wrong-way risk, as well as the methods to determine appropriate collateral haircuts.
The many pages of legal jargon and technical details will need to be reviewed and analyzed by firms' compliance, legal, and outside consultants, with regard to requirements and any effect on related businesses.
Some of the major points relate to the diversification of collateral to avoid wrong-way risk, and how to determine collateral haircuts, and an outline of operational procedures and administration including agreement enforce-ability and timeframe for collateral exchanges. Lastly, the RTS draft covers how counterparties and the applicable authorities will handle the treatment of intragroup derivatives contracts. An excerpt from one document referenced in the release can be seen below:
SIX to Buy London’s Aquis Exchange in a £207 Million Cash Deal
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
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Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
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🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
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Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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