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29 May 2013

AMF(フランス金融市場庁)、運用会社によるEMIR(欧州市場インフラ規則)遵守のための指針を公表


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With the aim of helping investment management companies fulfil their obligations under the European regulation on OTC derivatives, CCPs and trade repositories (EMIR), the AMF has published a guide explaining the implications of this new framework.


A key element in the drive to enhance financial stability and security, the EMIR European regulation  applies to users of derivatives. Investment management companies are therefore subject to new  requirements, including a central clearing obligation (i.e. by means of an authorised clearing house) for  their transactions in sufficiently-standardised and liquid over-the-counter derivatives. For those over-the counter derivatives that are not cleared centrally, other techniques designed to reduce operational and  counterparty risk must be implemented. Lastly, the regulation introduces a requirement to report  transactions for all derivatives.

This pedagogical guide explains these new obligations and gives the key dates in the implementation  timetable. While requirements on marking to market and confirmation of the terms of derivatives contracts are already applicable, others will not come into force until 2014 or 2015.

Press release

Full guide (French only)



© AMF - Autorité des Marchés Financiers


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