EMIR 3: safeguards for risk-reduction services
ESMA finalises draft standards for the PTRR clearing exemption.
Key takeaways
The report addresses controls, records and exemption monitoring. Commission endorsement remains pending.
Impacts & actions
Liravo editorial analysis · assess against your authorisation and activities.
- Publication type
- Draft technical standards
- Timing to note
- Monitor EU adoption; the report alone does not establish immediate applicability.
Relevant institutions
Banks, investment firms and managers using OTC derivatives and PTRR services.
Impact to assess
Controls and audit trails may need review.
Actions to consider
- Inventory PTRR services.
- Compare controls with the draft.