Page 42 - 期货和衍生品行业监管动态（2025年6月）

期货和衍生品行业监管动态

implementation efforts, already contributing to burden reduction by avoiding

implementation cost in the short term. The rest of the MIFIR Review will go ahead as

planned.

Next steps

All interested parties can submit their contributions by 19 September.

Additionally, ESMA will reach out to different stakeholder groups to assess the

implementation challenges that the different options entail in practice and gather

further feedback on key drivers of cost.

Based on the feedback received, ESMA will publish a final report by the

beginning of 2026, which will include the identification of key cost drivers of

supervisory reporting and outline the proposed way forward.

https://www.esma.europa.eu/press-news/esma-news/streamlining-financial-transactio

n-reporting-esma-calls-input

11. 欧盟证券与市场管理局就保证金透明度与清算成本公开征求意见（2025 年 6

月 24 日）

欧盟证券与市场管理局（ESMA，欧盟证券市场的监管者）在审查《欧盟市

场基础设施监管条例 3》（EMIR 3）后，发起了两项公开征求意见。

ESMA 鼓励利益相关方就以下内容分享其观点：

 清算服务提供商（CSPs）应向其客户披露的、关于提供清算服务的成本

与费用的信息类型；及

 关于中央对手方（CCPs）保证金模拟工具（simulation tool）及清算服

务提供商保证金模拟的要求；以及中央对手方和清算服务提供商应就其

保证金模型提供的信息类型。

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