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Regulation (EU) No 648/2012

 

I. General Information

Title

Regulation on OTC derivatives, central counterparties and trade repositories

Abbreviations EMIR
Status: Existing
Description

 

On 4 July 2012, the Regulation on OTC-Derivatives, Central Counterparties and Trade Repositories ( EMIR - European Market Infrastructure Regulation) was adopted and entered into force on 16 August 2012. . This was a major development which enables the European Union to deliver the G20 commitments on OTC-Derivatives agreed in Pittsburgh in September 2009.

The Regulation ensures that information on all European derivative transactions will be reported to trade repositories and be accessible to supervisory authorities, including the European Securities and Markets Authority (ESMA), to give policy makers and supervisors a clear overview of what is going on in the markets.

The Regulation also requires standard derivative contracts to be cleared through Central Counterparties (CCPs) as well as margins for uncleared trades and establishes stringent organisational, business conduct and prudential requirements for these CCPs.

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Regulation (EU) No 648/2012
Source O.J. EU No L (Legislation), Edition 201, Year 2012, p.1
Adoption 07/04/2012
Promulgation 07/27/2012
Character Lamfalussy Framework Act
Implementation   Regulation (EU) Nr. 2017/979
  Regulation (EU) Nr. 2017/610
  Regulation (EU) Nr. 2016/2251
  Regulation (EU) Nr. 2016/1178
  Regulation (EU) Nr. 2015/1515
  Regulation (EU) Nr. 1317/2014
  Regulation (EU) Nr. 667/2014
  Regulation (EU) Nr. 591/2014
  Regulation (EU) Nr. 285/2014
  Regulation (EU) Nr. 1003/2013
  Regulation (EU) Nr. 1002/2013
  Regulation (EU) Nr. 876/2013
  Regulation (EU) Nr. 152/2013
  Regulation (EU) Nr. 153/2013
  Regulation (EU) Nr. 149/2013
  Regulation (EU) Nr. 148/2013
  Regulation (EU) Nr. 150/2013
  Regulation (EU) Nr. 151/2013
  Regulation (EU) Nr. 1249/2012
  Regulation (EU) Nr. 1247/2012
  Regulation (EU) Nr. 1248/2012
Legal Basis Art. 114 AEUV
Legislative Procedure Codecision procedure
Background de Larosière Report
 

II. Rahmenrechtsakt (Level 1)

 

1. Versions

  (EU) No 2017/979
    03/02/2017 (A)
    06/10/2017 (P)
EMIR (Regulation (EU) Nr. 648/2012) amended by

Commission Delegated Regulation (EU) 2017/979 of 2 March 2017 amending Regulation  (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories with regard to the list of exempted entities

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Ältere Textfassungen
(A) Adoption | (P) Promulgation
 

2. Reformvorhaben

  Proposal
    12/12/2017 (A)
    12/28/2017 (P)

Regulation of the European Parliament and of the Council laying down common rules on securitisation and creating a European framework for simple, transparent and standardised securitisation and amending Directives  2009/65/EC,  2009/138/EC,  2011/61/EU and Regulations  (EC) No 1060/2009 and  (EU) No 648/2012

Amendment Regulation (EU) Nr. 648/2012
(A) Adoption | (P) Promulgation
 

3. Legislative History

07/04/2012 Council decision Europäischer Rat, 13236/12 Französisch
07/04/2012 Signature by EP and Council O.J. L/2012 201/1
03/29/2012 Report of the European Parliament - 1st reading O.J. C E/2013 257/96 Deutsch
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03/22/2012 Opinion of the European Central Bank O.J. 2012/C 161/3 Deutsch
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07/05/2011 Report of the European Parliament - 1st reading O.J. C E/2013 33/233 Deutsch
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04/19/2011 Opinion of the European Data Protection Supervisor O.J. 2011/C 216/9 Deutsch
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01/13/2011 Opinion of the European Central Bank O.J. 2011/C 57/1 Deutsch
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12/08/2010 Opinion of the European Economic and Social Committee O.J. 2010/C 54/44 Deutsch
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09/15/2010 Proposal COM(2010) 484 final Deutsch
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4. Comments

12/06/2010 Centrum für Europäische Politik (CEP) PDF-Datei
11/29/2011 Deutsches Aktieninstitut e.V., Bundesverband der Deutschen Industrie e.V und Verband Deutscher Treasurer (DAI, BDI und VDT) PDF-Datei
 

5. Legal Impact

Amendment  Directive 98/26/EC
Deutsch Englisch Französisch
 

III. Implementing / Legislative Act (Level 2)

 

1. Implementation

  (EU) No 2017/979
    03/02/2017 (A)
    06/10/2017 (P)

Commission Delegated Regulation (EU) 2017/979 of 2 March 2017 amending Regulation  (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories with regard to the list of exempted entities

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  (EU) No 2017/610
    12/20/2016 (A)
    03/31/2017 (P)

Commission Delegated Regulation (EU) 2017/610 of 20 December 2016 amending Regulation  (EU) No 648/2012 of the European Parliament and of the Council as regards the extension of the transitional periods related to pension scheme arrangements

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  (EU) No 2016/2251
    10/04/2016 (A)
    12/15/2016 (P)

Commission Delegated Regulation (EU) 2016/2251 of 4 October 2016 supplementing Regulation  (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories with regard to regulatory technical standards for risk-mitigation techniques for OTC derivative contracts not cleared by a central counterparty

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  (EU) No 2016/1178
    06/10/2016 (A)
    07/20/2016 (P)

Commission Delegated Regulation (EU) 2016/1178 of 10 June 2016 supplementing Regulation  (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on the clearing obligation

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  (EU) No 2015/1515
    06/05/2015 (A)
    09/15/2015 (P)

Commission Delegated Regulation (EU) 2015/1515 of 5 June 2015 amending Regulation  (EU) No 648/2012 of the European Parliament and of the Council as regards the extension of the transitional periods related to pension scheme arrangements

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  (EU) No 1317/2014
    12/11/2014 (A)
    12/12/2014 (P)

Commission Implementing Regulation  (EU) No 1317/2014 of 11 December 2014 on the extension of the transitional periods related to own funds requirements for exposures to central counterparties in Regulations  (EU) No 575/2013 and  (EU) No 648/2012 of the European Parliament and of the Council

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  (EU) No 667/2014
    03/13/2014 (A)
    06/19/2014 (P)

Commission Delegated Regulation  (EU) No 667/2014 of 13 March 2014 supplementing Regulation  (EU) No 648/2012 of the European Parliament and of the Council with regard to rules of procedure for penalties imposed on trade repositories by the European Securities and Markets Authority including rules on the right of defence and temporal provisions

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  (EU) No 591/2014
    06/03/2014 (A)
    06/04/2014 (P)

Commission Implementing Regulation  (EU) No 591/2014 of 3 June 2014 on the extension of the transitional periods related to own funds requirements for exposures to central counterparties in Regulation  (EU) No 575/2013 and Regulation  (EU) No 648/2012 of the European Parliament and of the Council

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  (EU) No 285/2014
    02/13/2014 (A)
    03/21/2014 (P)

Commission Delegated Regulation  (EU) No 285/2014 of 13 February 2014 supplementing Regulation  (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on direct, substantial and foreseeable effect of contracts within the Union and to prevent the evasion of rules and obligations

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  (EU) No 1003/2013
    07/12/2013 (A)
    10/19/2013 (P)

Commission Delegated Regulation  (EU) No 1003/2013 of 12 July 2013 supplementing Regulation  (EU) No 648/2012 of the European Parliament and of the Council with regard to fees charged by the European Securities and Markets Authority to trade repositories

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  (EU) No 1002/2013
    07/12/2013 (A)
    10/19/2013 (P)

Commission Delegated Regulation  (EU) No 1002/2013 of 12 July 2013 amending Regulation  (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories with regard to the list of exempted entities

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  (EU) No 876/2013
    05/28/2013 (A)
    09/13/2013 (P)

Commission Delegated Regulation  (EU) No 876/2013 of 28 May 2013 supplementing Regulation  (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on colleges for central counterparties

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  (EU) No 152/2013
    12/19/2012 (A)
    02/23/2013 (P)

Commission Delegated Regulation  (EU) No 152/2013 of 19 December 2012 supplementing Regulation  (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on capital requirements for central counterparties

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  (EU) No 153/2013
    12/19/2013 (A)
    02/23/2013 (P)

Commission Delegated Regulation  (EU) No 153/2013 of 19 December 2012 supplementing Regulation  (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on requirements for central counterparties

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  (EU) No 149/2013
    12/19/2012 (A)
    02/23/2013 (P)

Commission Delegated Regulation  (EU) No 149/2013 of 19 December 2012 supplementing Regulation  (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on indirect clearing arrangements, the clearing obligation, the public register, access to a trading venue, non-financial counterparties, and risk mitigation techniques for OTC derivatives contracts not cleared by a CCP

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  (EU) No 148/2013
    12/19/2012 (A)
    02/23/2013 (P)

Commission Delegated Regulation  (EU) No 148/2013 of 19 December 2012 supplementing Regulation  (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories with regard to regulatory technical standards on the minimum details of the data to be reported to trade repositories

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  (EU) No 150/2013
    12/19/2012 (A)
    02/23/2013 (P)

Commission Delegated Regulation  (EU) No 150/2013 of 19 December 2012 supplementing Regulation  (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories with regard to regulatory technical standards specifying the details of the application for registration as a trade repository

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  (EU) No 151/2013
    12/19/2012 (A)
    02/23/2013 (P)

Commission Delegated Regulation  (EU) No 151/2013 of 19 December 2012 supplementing Regulation  (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories, with regard to regulatory technical standards specifying the data to be published and  made available by trade repositories and operational standards for aggregating, comparing and accessing the data

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  (EU) No 1249/2012
    12/19/2012 (A)
    12/21/2012 (P)

Commission Implementing Regulation  (EU) No 1249/2012 of 19 December 2012 laying down implementing technical standards with regard to the format of the records to be maintained by central counterparties according to Regulation  (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories

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  (EU) No 1247/2012
    12/19/2012 (A)
    12/21/2012 (P)

Commission Implementing Regulation  (EU) No 1247/2012 of 19 December 2012 laying down implementing technical standards with regard to the format and frequency of trade reports to trade repositories according to Regulation  (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories

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  (EU) No 1248/2012
    12/19/2012 (A)
    12/21/2012 (P)

Commission Implementing Regulation  (EU) No 1248/2012 of 19 December 2012 laying down implementing technical standards with regard to the format of applications for registration of trade repositories according to Regulation  (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories

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IV. CESR / ESMA Announcements (Level 3)

05/2018

Q&A on Implementation of the Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR)

ESMA/70-1861941480-52  
04/2016

Q&A on ESMA’s EU - wide stress tests for CCPs

ESMA/2016/665  
09/2014

Leitlinien und Empfehlungen zur Umsetzung der CPSS- IOSCO-Prinzipien für Finanzmarktinfrastrukturen in Bezug auf zentrale Gegenparteien

ESMA/2014/ 1133  
08/2014

Guidelines and Recommendations regarding the implementation of the CPSS - IOSCO Principles for Financial Market Infrastructures in respect of Central Counterparties

ESMA/2014/1009  
 

V. Umsetzung in den Mitgliedstaaten

 

1. Implementation in Germany

02/13/2013 (A)
02/15/2013 (P)

 Ausführungsgesetz zur Verordnung (EU) Nr. 648/2012 über OTC-Derivate, zentrale Gegenparteien und Transaktionsregister

Deutsch
(A) Adoption | (P) Promulgation
 

VI. Other

 

1. Consulation Paper

ESMA
11/17/2017

Consultation Paper - ESMA's Guidelines on position calculation under  EMIR

PDF-Datei
 

2. ESMA Final Reports on ITS/RTS

ESMA/2016/725
05/26/2016

Final Report: Draft regulatory technical standards on indirect clearing arrangements under  EMIR and  MiFIR

PDF-Datei
Language:
Deutsch Deutsch
English Englisch
Francais Französisch
Chinese Chinesisch

Legende

Hyperlink int./ext. Verlinkung
Externer Link Externer Hyperlink
Status des Rechtsaktes
Aufgehoben Aufgehoben
Vorhaben Vorhaben
Inkraft Inkraft
Unbekannt Unbekannt
Dokumente
Deutsch Deutsche Fassung
Englisch Englische Fassung
Französisch Franz. Fassung
PDF-Datei Sonstige PDF-Datei
Dokument Sonstiges Dokument
Externer Link Externes Dokument

Overview

I. General Information
II. Rahmenrechtsakt (Level 1)
1. Versions
2. Reformvorhaben
3. Legislative History
4. Comments
5. Legal Impact
III. Implementing / Legislative Act (Level 2)
1. Implementation
IV. CESR / ESMA Announcements (Level 3)
V. Umsetzung in den Mitgliedstaaten
1. Implementation in Germany
VI. Other
1. Consulation Paper
2. ESMA Final Reports on ITS/RTS

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