Opinion on the proposal for a regulation of the European Parliament and of the Council on OTC derivatives, central counterparts and trade repositories
April 5, 2011
On 5 April 2011, the European Parliament published a revised opinion of the Committee on Legal Affairs on the proposed European Market Infrastructure Regulation (EMIR).
The opinion contains suggested amendments for the regulation which sets out: i) the conditions for authorising Central Counterparties (CCPs) to ensure that there are appropriate central clearing mechanisms in place; and ii) that the reporting of derivatives to trade repositories will enable enhanced analysis of systemic risk.
EMIR is expected to be adopted on 7 June 2011 when the European Parliament plenary sitting takes place.