Travers Smith’s Post

Encouraging start to the European Central Securities Depositories Association (ECSDA) Conference 2024. Great to see the timing of the conference to occur a day after the European Securities and Markets Authority (ESMA) announcement on T+1 ensures that settlement efficiency is top of the agenda. More to follow of the digitalisation of markets. Montis Group

EMIR 3.0: The latest #ACInsights briefing from our Derivatives, Treasury and Market Infrastructure Group looks at the planned active account requirement under EMIR 3.0 in more detail. Phil Cody Aiden Small Peter Murphy Maedhbh Clancy Sarah Thompson Sinéad Cantillon

The Council of the European Union has published the amendment of three directives – 2009/65/EC, 2013/36/EU, and 2019/2034 – to address “the treatment of concentration risk arising from exposures towards central counterparties (CCPs) and of counterparty risk in centrally cleared derivative transactions”. The intention is to “ensure consistency with the new requirements for clearing” under the European Markets Infrastructure Regulation (EMIR 3.0).

We have published a paper on the margin setting of central counterparties with my co-authors Zsolt Bihary and Barbara Dömötör. We show that countercyclical margin setting is optimal not only from a regulatory perspective but also for micro-prudential reasons. Finance Research Letters: Dynamic Margin Optimization https://lnkd.in/dYJuiFiS

EMIR 3.0 was published in the Official Journal of the European Union on 4 December 2024 and will apply from 24 December 2024. Derivatives users should therefore now be reviewing their compliance arrangements, and considering whether and how EMIR 3.0 will require these arrangements to be amended and enhanced. In this article, Finance and Capital Markets partners Alan Bunbury, Alma Campion and Knowledge Management lawyer John Adams assess the final text of EMIR 3.0 and highlight the key issues arising for derivatives users. Read more here - https://lnkd.in/esqs9RTH #MathesonLaw #FinanceandCapitalMarkets #Derivatives #BankingAdvisory 

The UK EMIR (European Market Infrastructure Regulation) REFIT has officially come into force. This regulation mandates that firms report derivatives transactions to trade repositories to enhance transparency and reduce systemic risk in the derivatives market. If you have any specific questions about the UK EMIR Refit reporting requirements or how Droit can help, please contact us. https://bit.ly/4cCm9gQ Read more Via Asset Servicing Times: https://bit.ly/3TLPWfK #EMIRRefit #DerivativesReporting #RegulatoryCompliance #RegulatoryReporting

📢 Crucial Update: Upcoming Changes to the Derivatives Reporting Framework under UK EMIR   Starting today, September 30, 2024, new Technical Standards and rules for Trade Repositories (TRs) under the UK EMIR derivatives reporting framework come into effect. These changes are designed to enhance the accuracy and transparency of derivatives reporting.   🔍 Important for UK Counterparties: To meet the UK EMIR reporting requirements, every counterparty entering into derivative trades must have a Legal Entity Identifier (LEI). The LEI is essential for ensuring precise and reliable reporting across the derivatives market.   Stay compliant and prepared! For more information, please visit: https://lnkd.in/e3dcAPmZ   #UKEMIR #DerivativesReporting #LEI #GLEIF #TradeRepositories #FinancialCompliance #DataStandards

The new Canadian Derivatives Landscape Rules are approaching. Are you aware of the key changes and Compliance Steps for 2025? Our latest blog by our subject matter expert Adam Goldberg, covers what you need to know and how your institution needs to prepare to stay compliant and ahead of your competitors. Read the blog: https://okt.to/UrJhAa #problemssolved

11.45am - 12.30pm - A clear view Panellists: Darren Crowther of Broadridge, Michalis Sotiropoulos of The Depository Trust & Clearing Corporation (DTCC), Richard Gomm of SIX This session will explore the far-reaching implications of the upcoming US Treasury central clearing mandate, set to reshape one of the world’s largest and most liquid markets. As US regulators push for greater market resilience following recent periods of volatility, this mandate will significantly impact both domestic and international participants, including those in Europe. The discussion will delve into the challenges and benefits of mandatory central clearing, examining the implications for margin costs, risk management, and operational adjustments. Attendees will gain insights into how this ruling, while focused on US markets, is poised to influence European market practices and regulations, especially in light of ongoing EMIR 3.0 deliberations. Join industry experts as they discuss the path forward, the necessary preparations, and the broader context of global market integration. For more information and to register, Visit:https://lnkd.in/ekv7Yvc9

Very excited to share my latest piece on the new rules coming to the Canadian Derivatives market. Navigating the New Canadian Derivatives Landscape: Key Changes and Compliance Steps for 2025 Our latest blog by our Subject Matter Expert - Adam Goldberg, covers what you need to know and how your institution needs to prepare to stay compliant and ahead of your competitors. #problemssolved #canadianbusinessconductrules Read the blog > https://lnkd.in/gcHxZXej