EMIR

EMIR is a regulation that aims to reduce risk in OTC derivatives market, but it covers also listed derivatives since all derivatives are included in the reporting requirement.

EMIR affects both financials and corporates, but most corporates only faces stricter and more timely confirmations, portfolio reconciliaion and trade reporting requirements. Corporates above so called 'clearing thresholds" face the same requirements as financials. A 'clearing threshold' is a nominal amount of outstanding positions in an asset class.

EMIR as an European regulation has been in effect since 4th July 2012, and is valid without national law changes. However, when the various requirements in EMIR actually take effect depends on so called technical standards. Technical standards are the more detailed level of regulations, and most EMIR requirements do not take effect until the respective technical standard take effect. Several technical standards are now finalized and in effect since March 15th, other remain. Several kinds of phasing in periods can be found in the technical standards, which makes the regulatory roll-out very complex to understand.

Capcore can help you with identifying precisely those parts that are of relevance for you and when those requirements need to be met, and finally, how to best adopt your business, business models and IT-environment.

EMIR - Does it affect you?

The different elements of EMIR affect the various types of counterparty in derivative trading differently, and will come into effect at different times.
Please find below a summary of how the key EMIR requirements will affect the various counterparty types.

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Capcore approach on EMIR

Having experts that specialize in OTC derivatives reform, and who have been helping the market to prepare and adapt to them since the end of 2010, enables us to a deliver concise analysis of your current situation – quickly and efficiently – and provide a compliance heat map that highlights the key actions necessary for EMIR compliance confidence. We also understand that simply focusing on strict adherence – with the sole aim of achieving compliance – may result in lost business or falling behind your competitors with a business transformation trend.

Read more: Capcore approach on EMIR

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