The European Commission has adopted Commission Delegated Regulation (EU) …/… of 17 November 2017 supplementing MiFIR with regard to regulatory technical standards on the trading obligation for certain derivatives.
The Delegated Regulation identifies certain interest rate swaps (IRS) and index credit default swaps (CDS) that should be subject to the trading obligation under MiFIR. In particular, certain standardised fixed-to-float IRS denominated in EUR, GBP and USD and two index CDS are identified as appropriate for being subject to the trading obligation, introducing the required level of detail within the description of those derivative contracts.
The Delegated Regulation takes effect from the later of the following dates:
- 3 January 2018; or
- the date referred to in Article 3 of Delegated Regulation (EU) 2015/2205 or Article 3 of Delegated Regulation (EU) 2016/592 for that category of counterparties.
The Delegated Regulation will enter into force on the day following that of its publication in the Official Journal of the EU.