Page 27 - 《期货和衍生品行业监管动态》（2022年合集）

期货和衍生品行业监管动态

part of the European Union’s overall response to the tragic consequences of Russia’s
military aggression.

ESMA provides a forum for supervisors to discuss questions and coordinate

responses arising from the current situation. To ensure stakeholders are adequately

informed, ESMA outlines below its specific supervisory and coordination activity, as

well as recommendations to financial market participants:

Supervisory and coordinating activities

 CCPs – ESMA is closely monitoring CCP related volatility and margin

developments in energy and commodities market segments. It is also in close

contact with NCAs focussing on the impact on clearing members and their clients

in those markets;

 Credit Rating Agencies – ESMA continues to actively engage with CRAs to
ensure sufficient transparency around ratings and is monitoring the impact of

sanctions on CRAs’ operations in close cooperation with other regulators;

 Benchmarks – ESMA is engaging with its supervised benchmarks administrators
to verify the impact of market developments and sanctions on the provided

benchmarks. It is also engaging and coordinating with NCAs regarding the

impact on benchmarks provided by the administrators under NCAs' supervisory

remit;

 Investment Management – ESMA has reinforced its coordination role by

monitoring investment funds, organising frequent exchanges with NCAs to

analyse market developments and supervisory risks linked to the crisis, focusing

on liquidity issues and the use of liquidity management tools (LMTs) and

monitoring issues relating to valuation of assets and potential suspension of

redemptions;

 Secondary markets – ESMA and NCAs are monitoring the market situation, and
ESMA is assisting NCAs with the consistent implementation of sanctions by

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