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User-friendly EMIR?

The FCA have updated the section of their site that deals with EMIR notifications and exemptions. Since 15th March 2013 it has been a requirement under Article 10(1) of EMIR, that non-financial counterparties inform their regulator as to their status with respect to the clearing threshold. The threshold applies to a party’s rolling average position over 30 days, and therefore requires daily monitoring. The FCA has included two forms as downloadable Excel worksheets, in order to summarise, standardise and facilitate the notification process. Even if slightly late to the game and a long way behind technology’s cutting-edge, this is a welcome development from the new regulator.

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