On 21 December 2020, the European Securities and Markets Authority (ESMA) updated its Q&As on the European Market Infrastructure Regulation (EMIR).

ESMA has updated the Q&As to clarify the status after the post-Brexit transition period of legacy derivative transactions executed on UK markets and is relevant for EU counterparties in order to determine applicable EMIR requirements, and for position calculations against clearing thresholds. In addition, Parts IV and V of the Q&As have been amended to clarify the reporting technique for derivatives executed on a third country venue and cleared on the same day.