News & Analysis as of

Derivatives Capital Markets European Union

A&O Shearman

Corrigendum to EMIR 3 clarifies AML/CFT references

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A Corrigendum to Regulation (EU) 2024/2987, referred to as the revised European Market Infrastructure Regulation (EMIR 3), has been published in the Official Journal of the European Union. This Regulation amends Regulations...more

A&O Shearman

ESMA consults on draft RTS for margin transparency requirements and clearing costs

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The European Securities and Markets Authority (ESMA) has published two consultation papers (CP) proposing draft regulatory technical standards (RTS) mandated under the review of European Market Infrastructure Regulation (EMIR...more

A&O Shearman

Final draft RTS on EU active account requirement published

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Following its consultation, the European Securities and Markets Authority (ESMA) has published a final report, including final draft regulatory technical standards (RTS), on the conditions of the Active Account Requirement...more

A&O Shearman

ESMA MiFIR review consultation package on derivatives transparency, package orders and CTP data

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The European Securities and Markets Authority (ESMA) has launched its consultation in relation to derivatives transparency, package orders, and input and output data for consolidated tape providers (CTPs). This is the fourth...more

A&O Shearman

Commission Implementing Decision extends temporary equivalence of UK CCPs

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Commission Implementing Decision (EU) 2025/215 has been published in the Official Journal of the European Union, extending EU equivalence for U.K. CCPs under the European Market Infrastructure Regulation (EMIR)...more

A&O Shearman

European Commission adopts Delegated Regulation on over-the-counter derivatives identifying reference data under EU Markets in...

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The European Commission has adopted a Delegated Regulation supplementing the EU Markets in Financial Instruments Regulation on OTC derivatives identifying reference data to be used for the purposes of the transparency...more

A&O Shearman

International bodies report on effective practices for streamlining variation margin in centrally cleared markets

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The Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions published a final report on examples of effective practices for streamlining variation margin in centrally...more

A&O Shearman

International bodies issue final report on transparency and responsiveness of initial margin in centrally cleared markets

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The Basel Committee on Banking Standards, Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions has published a final report on transparency and responsiveness of...more

A&O Shearman

International Organization of Securities Commissions Report on Principles for the Regulation and Supervision of Commodity...

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The International Organization of Securities Commissions has published a report on a targeted implementation review on principles for the regulation and supervision of commodity derivatives markets. In October, IOSCO...more

A&O Shearman

CRT Transactions in the EU, U.K. and the United States

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In this bulletin, we consider the current state of the EU, U.K. and U.S. markets for credit risk transfer (“CRT”) transactions, with a particular focus on the fund finance market. For a more in-depth introduction to this...more

Hogan Lovells

Continuing or cured? The suspension of swap payments following an event of default may not be unlimited

Hogan Lovells on

The High Court of England and Wales has recently provided welcome clarification around the nature of events of default under derivatives contracts governed by the ISDA Master Agreement, in particular in relation to whether an...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Articles on New NYSE Direct Listing Rules from the SEC, a CFTC No-Action Letter...

SEC/CORPORATE - SEC Stays Implementation of New NYSE Direct Listing Rules - As discussed in the August 31, 2020 edition of the Corporate & Financial Weekly Digest, on August 26, the Securities and Exchange Commission...more

Jones Day

ISDA Publishes Results of Benchmark Fallbacks Consultation as Sunset Looms for LIBOR

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The Situation: The International Swaps and Derivatives Association, Inc. ("ISDA") has announced the preliminary results of its market consultation concerning the fallbacks rates to be relied on upon cessation of certain...more

A&O Shearman

Key Regulatory Topics: Weekly Update - 15 December 2017 – 21 December 2017

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BREXIT - CBI Brexit guide to EU bodies and regulators: financial services aspects - On 21 December, the CBI published a guide to the EU bodies and regulators that matter to business in the Brexit negotiations, including...more

K&L Gates LLP

Dodd-Frank Turns Five, What Comes Next?

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The 2008 credit crisis was the beginning of an era of unprecedented government management of the capital markets. July 21, 2015 marked the fifth anniversary of the hallmark congressional response, the Dodd-Frank Wall Street...more

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