ESMA publishes draft RTS on CCP Authorisations, Extensions and Validations under EMIR 3
The European Securities and Markets Authority (ESMA) has today launched two public consultations in the form of draft Regulatory Technical Standards (RTS) following the review of the European Market Infrastructure Regulation (EMIR 3). EMIR 3 introduces several measures to make EU clearing services and EU central counterparties (CCPs) more efficient and competitive by streamlining supervisory procedures for initial authorisations, extensions of authorisation and validations of changes to models and parameters. The two draft RTS relate to (1) the conditions for extensions of authorisation and the list of documents for applications for initial authorisations and extensions of authorisation under EMIR 3 and (2) the conditions and the list of documents for an application for validation of changes to models and parameters under Articles 49 and 49a of EMIR. The deadline for responses to the consultation papers is 7 April 2025.