Earlier this month, the ESAs published a final report on proposed updates to the existing EMIR margin rules (the “Margin RTS Updates”). Although not yet final, the absence of a public consultation and fast approaching...more
EMIR: Non-Deliverable FX Forwards and Interest Rate Swap Clearing - Non-deliverable FX forwards - ESMA confirms that EMIR clearing requirements will not apply to non-deliverable FX forwards, though reserves its...more
On July 22, the European Commission answered the question on whether a rolling spot Foreign Exchange on margin takes the form of a derivative contract or a contract for difference to be considered a financial instrument under...more