EMIR

European Market Infrastructure Regulation regulation.

Definition

EMIR (Regulation EU 648/2012) requires for OTC derivatives: reporting of all contracts to a trade repository (TR), mandatory clearing via authorised CCP for eligible classes, bilateral risk margins for non-cleared, mandatory LEI identification. EMIR REFIT (2024) adds ISO 20022 standard and 89 additional fields.

Origin

Adopted July 2012, effective August 16, 2012. EMIR REFIT II applied since April 29, 2024.

Example in context

A financial counterparty reports each swap to DTCC/REGIS-TR via DDC in ISO 20022 auth.030 format.

Related terms

• MiFID II — companion markets regulation.