Forthcoming Rules Under EMIR on Dispute Resolution and Portfolio Reconciliation

August 28, 2013

The European Commission’s regulation on clearing of OTC derivatives (EMIR) requires counterparties to OTC derivative contracts that are not cleared by a central counterparty to mitigate their trading risks by using a number of different techniques. The following rules come into effect on 15 September 2013:

  • The requirement for counterparties to agree arrangements for the reconciliation of their OTC derivative contracts.
  • The requirement for counterparties to agree procedures in relation to the identification and resolution of disputes1.

The rules have “direct effect”, meaning that local regulators are not required to implement the rules into their own rulebooks.

Read "Forthcoming Rules Under EMIR on Dispute Resolution and Portfolio Reconciliation".

1Articles 13 (Portfolio reconciliation), 14 (Portfolio compression) and 15 (Dispute resolution) of the Commission Delegated Regulation No 149/2013.