Banks shun Emir's indirect clearing service

Esma must step in if controversial service is to work, banks insist

Esma headquarters

Banks are still incapable of offering indirect clearing for over-the-counter derivatives more than two years after rules for the service were added to the European Market Infrastructure Regulation (Emir) – an attempt by regulators to ensure small OTC market participants would be able to clear. Big banks say the terms on which they would have to offer the service make it commercially unviable.

Indirect clearing allows the clients of a clearing member to take on clients of their own, but the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.


Want to know what’s included in our free registration? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here