Page 86 - 《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

下一步

欧盟委员会将根据利益相关者对其公开征求意见的反馈，制定一项立法提案，

修订欧盟中央清算机制。

ESMA Responds to European Commission Consultation on EMIR Review

（2022/4/5）

The European Securities and Markets Authority (ESMA), the EU’s securities

markets regulator, has written to the European Commission (EC) providing its

high-level response to the consultation on a targeted review of EMIR with respect to

the European Union (EU) central clearing framework.

ESMA, in its response, recommends a set of measures for consideration that will
support the EU objective of increasing the attractiveness of EU markets and reducing

exposure to CCPs located outside the EU.

The recommendations include proposals to:

 increase the attractiveness of cleared EU markets, e.g. by expanding and

facilitating entities clearing in the EU;

 improve the clearing obligation framework, e.g. by changing the

reference from OTC to non-cleared derivatives in the clearing thresholds;

 incentivise EU clearing participants to reduce their exposures to UK

CCPs;

 enhance the EU supervisory framework for CCPs; and

 mitigate risks remaining at UK CCPs;

ESMA plays a central role in the implementation of the clearing obligation,
including the review of its scope, as well as in ensuring a robust CCP landscape, by

promoting supervisory convergence across EU CCPs and monitoring and supervising

TC-CCPs.

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