Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
With over 30 practice areas, we have all bases covered. Find out how we can help
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Regulatory, business information and analytics solutions that help professionals make better decisions
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
What are the clearing obligations for trades of over-the-counter (OTC) derivatives? Lewis Lee, associate at Morrison & Foerster, looks at the latest developments from the European Securities and Markets Authority (ESMA) in relation to centrally clearing interest rate derivatives.
Four interest rate swap (IRS) classes will need to be centrally cleared under ESMA’s final draft regulatory technical standards (RTS). The RTS define the types of IRS contracts which will have to be centrally cleared, the types of counterparties covered by the obligation and the dates by which central clearing of IRS will become mandatory. ESMA has submitted its final draft IRS RTS to the European Commission, which now has up to three months to endorse the standards.
The European Market Infrastructure Regulation (EMIR) places a number of obligations on counterparties to OTC derivative transactions. These include the central clearing of trades deemed to be subject to a ‘clearing obligation’. Although EMIR has been in force for over two years, the clearing requirement has taken time to implement and confirmation of its effective date for different asset classes and counterparties has remained dependent upon a number of factors—not least the requirement for ESMA to determine which classes of derivatives trades should, in accordance with the criteria required to be satisfied under EMIR, be mandatorily clearable. On 1 October 2014, ESMA published its final report co
Access this article and thousands of others like it free by subscribing to our blog.
Read full article
Already a subscriber? Login
0330 161 1234