EMIR
European Market Infrastructure Regulation
Definition
The EU regulation establishing requirements for OTC derivative contracts, central counterparties (CCPs), and trade repositories. EMIR mandates the clearing of standardised OTC derivatives through CCPs, the reporting of all derivative transactions to trade repositories, and risk mitigation techniques for non-centrally cleared derivatives.
Regulatory Context
EMIR was a key post-crisis reform implementing G20 commitments. EMIR Refit simplified reporting obligations for certain counterparties. EMIR 3.0 proposals aim to strengthen the EU's clearing framework and reduce reliance on third-country CCPs.