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European Market Infrastructure Regulation (Emir)
The European Market Infrastructure Regulation, gradually implemented in the European Union since 2012, introduced a number of requirements for derivatives, central counterparties (CCPs) and trade repositories. These include mandatory clearing for some over-the-counter derivatives, reporting of derivatives trades to trade repositories and margining for non-cleared OTC derivatives.
Emir is currently undergoing two separate reviews. The first is aimed at easing clearing and reporting requirements for smaller financial institutions and non-financial corporations, while the second focuses on the supervision of third-country CCPs.
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