Clearing and Settlement

On 25 April 2024, the Financial Stability Board (FSB) issued a report on financial resources and tools for central counterparty (CCP) resolution.

In the report, which incorporates feedback from a public consultation, the FSB identifies a toolbox approach as an effective means for resolution authorities to support CCP resolution. In

On 25 April 2024, the European Parliament issued a press release stating that it had adopted the text of a proposed Regulation amending the European Market Infrastructure Regulation as regards measures to mitigate excessive exposures to third country central counterparties (CCPs) and improve the efficiency of EU clearing markets (EMIR 3).

On 24 April 2024, the European Securities and Markets Authority (ESMA) published a follow up report which sets out the main outcomes of the global central counterparty (CCP) fire drill that took place during the week starting 13 November 2023. The exercise involved over 30 global CCPs running a simulation of

On 11 April 2024, the European Securities and Markets Authority (ESMA) published a Follow-up Report to the Peer Review into supervisory actions aiming at enhancing the quality of data reported under the European Market Infrastructure Regulation (EMIR). The follow up updates on the actions that Member State competent authorities (NCAs

On 4 April 2024, the International Organisation for Securities Commissions (IOSCO) published a Consultation Report titled Evolution in the Operation, Governance and Business Models of Exchanges: Regulatory Implications and Good Practices.

The Consultation Report analyses the structural and organisational changes within exchanges. It primarily focuses on business models and ownership structures. Importantly, it

On 27 March 2024, the European Securities and Markets Authority (ESMA) published a statement on deprioritising supervisory actions linked to the clearing obligation for third-country pension scheme arrangements (TC PSA), pending the finalisation of the review of the European Market Infrastructure Regulation (EMIR).  The Council of the EU and

On 21 March 2024, the European Securities and Markets Authority (ESMA) published a Feedback Statement received to its October 2023 Call for Evidence on shortening the settlement cycle.

Regulation (EU) 2023/2845 (CSDR Refit) mandates ESMA to submit to the European Commission (Commission) by 17 January 2025 a report on

Our podcast series Split the difference explores divergence between the EU and UK regulatory regimes in the markets space. In the latest episode, Hannah Meakin, Anna Carrier, Georgia Karamani, Floortje Nagelkerke and Simon Lovegrove explore EMIR 3.0 and how the proposed new rules compare with the UK regime.

On 6 March 2024, there was published in the Official Journal of the EU (OJ) Commission Delegation Regulation 2024/818 of 28 November 2023 amending the regulatory technical standards laid down in Delegated Regulation (EU) No 153/2013 as regards the extension of temporary emergency measures on central counterparty collateral requirements. Commission Delegation Regulation 2024/818

On 27 February 2024, the European Securities and Markets Authority (ESMA) published a final report which takes into account the feedback provided by respondents to its earlier consultation paper on draft technical advice to the European Commission (Commission) on fees charged to Tier 1 third-country central counterparties (CCPs) under