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Draft RTS for EMIR

14/01/2021

On 23 November 2020, the European Supervisory Authorities (ABE, EIOPA, ESMA) published a final report with draft RTS for EMIR, proposing to substitute certain novations and amend timelines for intragroup transactions and equity options.

  • Novation substitution: the draft RTS allow UK counterparties to be replaced with EU counterparties without triggering the bilateral margin and clearing obligation requirements under certain conditions.
  • Intragroup transactions: the amendments included in these draft RTS propose to extend the temporary exemption for 18 months for intragroup transactions.
  • Equity options: the amendments included in the draft RTS on bilateral margin propose to extend the temporary exemption for single-stock equity options or index options for three years.
Head of Knowledge Management Strategy and Market Infrastructure - SGSS
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