Brussels, 21/05/2015 (Agence Europe) - On Thursday 21 May, the European Commission launched a public consultation to run until 13 August, to collect the input of the stakeholders on the impact on their activities of the European rules on financial derivatives.
The 'EMIR' regulation (648/2012), which is a cornerstone of the EU's response to the financial crisis, requires standard derivative contracts to be cleared through central counterparties (CCP) and, in order to increase transparency on a market which was previously extremely opaque, it requires the financial institutions to report their derivative contracts to trade repositories.
The Commission's online questionnaire deals with questions such as the governance and liquidity of the CCPs, cross-border derivative transactions, the impact of the transparency measures on investors' activities and the impact of the EMIR.
A public hearing on the rules on derivatives will be held in Brussels on Friday 29 May.
See: http://ec.europa.eu/finance/consultations/2015/emir-revision/index_en.htm (Mathieu Bion)