Speakers
Objectives
The objective of this session is to discuss the priorities for the next European political cycle in the clearing space.
This session will be organised in two rounds. The first round will take stock of the expected impacts of the EMIR 3 measures adopted and discuss the conditions for a successful implementation of EMIR 3 (e.g. key aspects remaining to be clarified and specified in the level 2). In the second round, the panel will discuss the main priorities for the incoming Commission in the area of clearing beyond EMIR 3 (e.g. implications of the ongoing discussions on the future steps of the CMU, trends or changes in the EU clearing space that may need considering in future policy work, risks and financial stability issues remaining to be tackled…).
Points of discussion
- Implementation of EMIR 3: Will the adopted EMIR 3 requirements help to significantly enhance the competitiveness of EU clearing and the mitigation of systemic risks? Are there key issues remaining to be clarified for preparing the implementation of EMIR 3? What are the conditions for a successful implementation of the EMIR 3 requirements?
- Priorities for the incoming Commission beyond EMIR 3: What are the implications for clearing of the ongoing discussions on the future of CMU and the proposals made in the reports on the future steps of CMU (e.g. in terms of strengthening EU level supervision, further integrating post-trading infrastructure…)? Which further issues or trends in the EU clearing ecosystem may need considering in future policy work for the next political cycle? Should more be done to address risks and financial stability challenges in the clearing space?