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    General information on EMIR

    Please be notified that from 12th February 2014 The EU Regulation No 648/2012 (European Market Infrastructure Regulations or "EMIR") imposes certain obligations on financial and non-financial counterparties (undertakings only, individuals are not subject to EMIR) established in the European Union entering into OTC derivative contracts. The OTC derivatives, as defined in EMIR, include all derivatives contracts which are not "executed on a regulated market", such as options, currency forwards, swaps, margin forwards etc. The purpose of the Regulation is to bring transparency into OTC derivative contracts by imposing a clearing obligation through central counter party and reporting obligations to trade repositories.

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