you're reading...
EMIR

ESRB report on EMIR review

The European Systemic Risk Board have published this report provided their views on the review on EMIR, which is intended to result in some changes to the rules to be announced over the coming months.

As with reports by other organisations such as ESMA and the European Commission, the ESRB is supportive of some of the changes which affect the trade reporting side of the rules. For example the report supports the concept that financial counterparties transacting with smaller non financial counterparties (a group that is distinct from NFC-s must report both sides of the trade. A change was also proposed which removes the “hedge exemption” from the calculation of the clearing threshold, which would change the status of some large NFCs from NFC- to NFC+

It remains to be seen whether these changes will be implemented. A summary of the report may be found here on the Norton Rose Fulbright web site.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on energy and commodity regulation. He has more than 20 years of experience in energy and commodity trading, credit, risk and financial technology. He has delivered a series of trading, credit and risk solutions to a wide variety of oil majors, power and gas companies and investment banks. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s