Delay in submitting the RTS on indirect clearing under MiFIR

The European Securities and Markets Authority (ESMA) has notified the European Commission to inform it that it has not submitted its draft MiFIR RTS on exchange-traded derivatives in order to ensure consistency with the EMIR RTS on the indirect clearing of OTC derivatives.

ESMA believes that in order to ensure the orderly functioning of markets amendments need to be made to the EMIR RTS and will launch a consultation shortly on these changes. It will then submit both sets of draft RTS together.

2015/1498 Letter to European Commission:Technical Standards on Indirect Clearing