On Thursday 9 October, the European Securities and Markets Authority (ESMA) launched a public consultation on draft regulatory technical standards (RTS) specifying the criteria for participation in central counterparties (CCPs) (see EUROPE 13718/29). The aim is to provide a framework for defining admission requirements and assessing the ability of non-financial counterparties to meet margin requirements and contributions to default funds.
Stakeholders have until 5 January 2026 to submit their comments.
Link to the public consultation: https://aeur.eu/f/iw6
In parallel, ESMA published on Thursday its final reports on two sets of RTS concerning the authorisation, extension of authorisation and model validation procedures for CCPs, as part of the implementation of the revision of the Market Infrastructure Regulation and Directive (‘EMIR’) (see EUROPE 13527/34). This reform aims to make European clearing services more efficient and competitive by streamlining the supervisory processes.
The two sets of regulatory technical standards (RTS) have been sent to the European Commission for approval. They will then be examined by the European Parliament and the Council of the EU.
See ESMA’s final report on the technical standards for authorisation and extension of activities: https://aeur.eu/f/iw8; and the final report on the standards for model validation: https://aeur.eu/f/iw9 (Original version in French by Bernard Denuit)