What Changed
ESMA, the EU's financial markets regulator and supervisor, has launched a consultation on an annual reporting framework under EMIR for clearing activity at recognised third-country CCPs.
The consultation paper contains proposed Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS) under EMIR.
The new requirements aim to establish a harmonised approach to reporting clearing activity at recognised third-country CCPs.
Highlights
- ESMA launched a consultation on an annual reporting framework under EMIR for clearing activity at recognised third-country CCPs.
- The consultation paper contains proposed Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS) under EMIR.
- The reporting obligation applies to clearing members and clients that clear transactions through recognised third-country CCPs.
- ESMA's feedback deadline for the consultation is 12 October 2026.
Who Is Affected
If you hold an account with a broker that clears transactions through a recognised third-country CCP, this reporting obligation applies to your broker as a clearing member or client.
The reporting framework's objective is to provide supervisory authorities with a structured and consistent overview of the scale, characteristics and risk profile of EU firms' exposures to recognised third-country CCPs.
The proposal limits the new requirements to information not available to ESMA or competent authorities, and it seeks to maximise the reuse of information already available through existing reporting channels.
Why It Fits ESMA's Wider Agenda
The proposal aligns with ESMA's simplification and burden reduction agenda.
The reporting framework also contributes to the broader monitoring framework established under EMIR 3.
What To Watch Next
ESMA's feedback deadline for the consultation is 12 October 2026.
After that date, ESMA will assess the responses received and prepare a Final Report.