Page 24 - 期货和衍生品行业监管动态（2025年10月）

期货和衍生品行业监管动态

ESMA is encouraging stakeholders to share their views about the elements that a

CCP should consider when

 establishing its admission criteria, and

 assessing the ability of non-financial counterparties acting as clearing

members to meet margin requirements and default fund contributions.

All interested stakeholders are invited to provide input to the consultation. In

particular, responses are sought from CCPs and direct or indirect participants of CCPs

(as well as potential participants of CCPs), both financial counterparties and

non-financial counterparties.

Next steps

The deadline to respond to the consultation is 5 January 2026.

Based on the responses received, ESMA will prepare the final report and submit

the final draft RTS to the European Commission by the end of Q1 2026.

https://www.esma.europa.eu/press-news/esma-news/esma-consults-ccp-participation-r

equirements

5. 欧盟证券与市场管理局发布中央对手方许可、展期与验证的监管技术标准

（2025 年 10 月 9 日）

欧盟证券与市场管理局（ESMA，欧盟证券市场的监管者）在对《欧盟市场

基础设施监管条例 3》（EMIR 3）进行审查后，发布了关于中央对手方（CCPs）

许可、许可展期及模型验证的监管技术标准（RTS）最终报告。

《欧盟市场基础设施监管条例 3》通过简化并缩短初始许可、许可展期以及

模型与参数变更验证的监管流程，引入多项措施以提升欧盟清算服务与欧盟中央

对手方的效率与竞争力。

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