On 25 June 2025, the European Securities and Markets Authority (ESMA) published its first central counterparty (CCP) resolution briefing.
The briefings are intended to provide a methodology that national resolution authorities (NRAs) may consider when drawing resolution plans for CCPs. They are not subject to any ‘comply or
On 23 June 2025, the Council of the EU published the final compromise text of the proposed Regulation amending the Central Securities Depositories Regulation as regards a shorter settlement cycle in the Union. The proposed Regulation enters into force on the twentieth day following its publication in the Official Journal of the EU and applies
On 11 June 2025, the European Commission adopted a Delegated Regulation amending Delegated Regulation (EU) No 876/2013 supplementing the European Market Infrastructure Regulation (EMIR) as regards changes to the functioning and management of colleges for central counterparties (CCPs).
The Delegated Regulation makes limited amendments to Commission Delegated Regulation (EU) No 876/2013
On 26 May 2025, there was published in the Official Journal of the EU, a Corrigendum to Regulation (EU) 2024/2987 of the European Parliament and of the Council of 27 November 2024 amending Regulations (EU) No 648/2012, (EU) No 575/2013 and (EU) 2017/1131 as regards measures to mitigate excessive exposures to third-country central counterparties and
On 20 May 2025, the European Parliament issued a press release stating that the Economic and Monetary Affairs Committee had adopted a report on the proposed Regulation to shorten the settlement cycle in the EU through an amendment to the Central Securities Depositories Regulation. The final text of the proposed Regulation will have to be
On 7 May 2025, the Council of the EU issued a press release stating that Member States’ representatives had approved its position on a European Commission proposal to shorten the settlement period for transactions in transferable securities. Among other things the Council amended the Commission’s proposal by exempting securities financing transactions from the settlement cycle
On 9 April 2025, the European Parliament published a draft report from the Committee on Economic and Monetary Affairs (ECON) on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 909/2014 as regards a shorter settlement cycle in the Union. Among other things the Rapporteur welcomes this
On 8 April 2025, the European Securities and Markets Authority (ESMA) issued a consultation paper setting out draft regulatory technical standards (RTS) amending the RTS on the clearing thresholds under the European Markets Infrastructure Regulation (EMIR).
Background
Regulation (EU) 2024/2987 amended EMIR and in particular modified the clearing thresholds
On 2 April 2025, the European Securities and Markets Authority (ESMA) published its latest annual review of EU central counterparty (CCP) supervision.
The peer review focuses on the effectiveness of Member State competent authorities’ (NCAs) supervisory practices in assessing CCP compliance with the European Market Infrastructure Regulation (EMIR