The European Securities and Markets Authority has published its final report and technical advice on the conditions for clearing services providers’ commercial terms to be considered fair, reasonable, non-discriminatory and transparent, in accordance with changes introduced under the revised European Market Infrastructure Regulation, or EMIR Refit. EMIR Refit requires the European Commission to adopt legislation setting out these conditions by June 18, 2021. The Commission tasked ESMA with publishing technical advice on the conditions, which ESMA launched a consultation on in October 2019. ESMA’s final technical advice takes account of the responses received to the consultation. In particular, the technical advice aims to:
Key aspects of ESMA’s proposed conditions for providing FRANDT commercial terms include:
View ESMA's final report on FRANDT commercial terms for clearing services.
View details of ESMA's consultation on FRANDT commercial terms for clearing services.
View details of EMIR Refit.
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