EMIR

EMIR

Prism’s back office solutions are integrated and comply as per the EMIR (European Markets Infrastructure Regulation) guidelines. EMIR aimed at improving the transparency of OTC (Over-the-counter) derivatives markets and to reduce the risks associated with those markets

EMIR (European Markets Infrastructure Regulation) came into force on 16 August 2012

EMIR is designed to increase stability of OTC Derivative market throughout in EU (European Union) state.

EMIR (European Markets Infrastructure Regulation) recommends:-

  • Reporting to trade repositories (TRs)
  • Clearing obligations OTC derivatives
  • Risk mitigation for unclear trades/non-cleared OTC derivatives including Non-financial counterparties (NFC) obligations
  • Requirements for clearing houses/central counterparties (CCPs) and trade repositories (TRs)
  • Reporting obligation for derivatives contracts.

EMIR will apply to EU firms even when trading with non-EU firms.