The European Securities and Markets Authority (ESMA) has launched a consultation for a proposed annual reporting framework under the European Market Infrastructure Regulation (EMIR). The new framework will change reporting requirements for clearing activity at recognised third-country CCPs.
The aim is to improve the “supervisory visibility of EU firms’ exposures to such CCPs”, claims ESMA in a press release. It will benefit supervisory authorities to have a “structured and consistent overview of the scale, characteristics, and risk profile of EU firms’ exposures to recognised third-country CCPs”.
The consultation paper details the proposed Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS) based on EMIR. ESMA assures market participants that in line with its burden reduction agenda, the proposal will “maximise the reuse of information already available through existing reporting channels” and limit new requirements only to information that is not already available to competent authorities.
The new obligations will apply to clearing members and clients that clear transactions through recognised third-country CCPs. The deadline for feedback is 12 October 2026.
