The increasing importance of central counterparties (CCPs) and challenges such as the United Kingdom’s withdrawal from the EU call for a more comprehensive supervision of CCPs in EU and non-EU countries to secure financial market infrastructure and build confidence. Continue reading
The European Market Infrastructure Regulation (EMIR – Regulation (EU) No 648/2012), adopted in 2012, forms part of the European regulatory response to the financial crisis, and specifically addresses the problems observed in the functioning of the ‘over-the-counter’ (OTC) derivatives market during the 2007-2008 financial crisis. Continue reading