On Tuesday 4 October, the European Commission presented a draft delegated regulation to bring in regulatory technical standards for risk-mitigation techniques for over-the-counter derivative contracts.
The 'EMIR' regulation (648/2012) brought in obligations this year for transactions in standard derivative products to be cleared by central counterparties. For derivatives still traded over-the-counter, there must be a bilateral exchange of collateral in order to protect the counterparties...