ESMA opens consultation on EMIR 3 relevant to those in commodities

ESMA has today opened a consultation on the aspects of EMIR 3 around threshold calculation and whether a contract is considered “risk reducing” under the calculation. It can be found here. EMIR 3 (see here) primarily changed aspects of EMIR around clearing but includes changes to how clearing thresholds are calculated for Financial and Non Financial Counterparties (FC and NFC), to be implemented over the coming months.

The consultation includes topics such as:

• The new thresholds and how they will be calculated for FCs and NFCs.
• How “risk reducing” status is calculated.

Customers of ETR’s Regulatory Support Service (see here) will receive a full analysis. The consultation closes on 16 June 2025.

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