Concentration limits on collateral pursuant to EMIR draft RTS
- Category: EMIR
Pursuant to the draft RTS, depending on the assets' class, the concentration limits on initial and variation margins range from 10 to 50%. Non-financials below a clearing threshold shouldn't bother.
The two distinct MiFID II exemptions for EU ETS operators
- Category: MiFID
The EU ETS operators probable don't put to much weight whether they trade in the spot market or in emissions derivatives markets (particularly given the availability of financial products such as "daily futures" for instance), nevertheless, from regulatory point of view under MiFID II draft Directive each of these markets will be covered by distinct exemption.
Each of these exemptions have its own strict perimeters, which must be observed, unless EU ETS operator intends to apply for a MiFID licence.
EMIR dispute resolution procedures under EFET ERMTA and ISDA Protocol - dual approach
- Category: EMIR
Industry master agreements differentiate between the "standard" dispute resolution procedure on the one hand and the process designed specifically for resolving EMIR-mandated issues on the other. What are their inter-dependencies?
RRM conception crystallised
- Category: REMIT
Market participants may choose either to become an RRM themselves or to use one or more third party RRMs to submit transaction reports to the ACER.
Physically-settled commodity derivatives - regulatory mess
- Category: MiFID
Is it really physically-settled gas and power forwards traded on multilateral trading facilities (MTFs) are 'financial instruments' for MiFID purposes?
Physically settled derivatives in MiFID II - prepare for fundamental change
- Category: MiFID
Only physically-settled oil and coal commodity derivatives contracts as well as REMIT wholesale energy products deserved special treatment in the new financial market architecture created by MiFID II and MiFIR. All others traded on an OTFs will fall under financial instruments regulation.
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