Energy firms face Emir confirmation challenge

Fax counterparties could be locked out of OTC market

clearing and settlement

Many smaller energy firms will struggle to meet a new deadline on trade confirmations for over-the-counter derivatives, which takes effect from September under the European Market Infrastructure Regulation (Emir), say consultants and market participants.

This is raising fears that smaller energy firms may be effectively excluded from trading with larger, more sophisticated counterparties.

While Emir seeks to push much of the OTC derivatives market towards central clearing, it also imposes tough

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