European Market Infrastructure Regulation EMIR

EMIR regulates the off-market trading of derivative products

The EMIR regulation (EU) Nr. 648/2012 is relevant to the EEA (European Economic Area). EMIR aims to minimise systemic risks in the European derivatives market.

The main content of EMIR is the clearing of off-market derivative transactions, risk management and the obligation to report OTC derivative transactions to a trade repository. EMIR also includes some communication with BaFin and ESMA.

To fulfill EMIR obligations in the area of reporting, the Legal Entity Identifier (LEI) is required (Art. 9 EMIR). 

The implementation of EMIR is the responsibility of the European Securities and Markets Authority.

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