The European Securities and Markets Authority (ESMA) has published an opinion on voting procedures for central counterparty (CCP) colleges under the European Market Infrastructure Regulation (EMIR).

Whilst EMIR sets out specific voting rights depending on the size of the CCP college and on the effect of specific voting modalities, EMIR does not expressly address certain aspects of the voting procedure, including how to count non-voting members of a CCP college or whether abstentions are possible.

In light of this, ESMA has adopted an opinion clarifying certain aspects of the voting procedure for the adoption of an opinion by a CCP college.

View Voting procedures for CCP colleges under EMIR, 28 May 2014