EMIR (European Market Infrastructure Regulation) is a set of union laws made by the European Union to safeguard transactions and increase transparency of the over-the-counter (OTC) and other exchange-traded financial derivatives. It aims to reduce counterparty credit risk and operational risks for preventing economic collapse during a financial crisis like the 2008 financial crisis. Trade repositories were established to register OTCs by European Securities and Marketing Authorities (ESMA) under the EMIR laws.
Entities such as banks, corporations, funds, Pension fund companies, insurance companies, and other financial firms that are in the European Union and participate in OTC derivative contracts are subjected to EMIR laws. They form the contracts to trade or hedge against foreign exchange interest rate for minimizing risks and exposing themselves to various other opportunities and assets of the market. These institutions after entering the contract are classified as counterparties under EMIR. The classification is divided into two: Financial counterparties (such as banks, brokers, insurance companies, and more) and Non-Financial counterparties.
MiFID II / MiFIR Transaction Reporting: A Practical Guide
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One of the main criticisms of the original MiFID was that national regulators did not enforce the directive with the same zeal across Europe. The list of financial instruments covered has been extended to almost all instruments traded in European markets – with particular emphasis on the OTC derivatives market that was previously out of scope for MiFID I. The issue with making this...
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Digital Banking leaders succeed by coupling the right approach with an organizational and process transformation that brings effective API design management, avoiding the danger of just adding on another layer of API chaos. Whether by pursuing new high growth opportunities in payments, or new business lines targeting the under-banked, the right integration and service-delivery approach...
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Omni-Channel Interaction Roadmap helps banks at each level of their progress and defines processes to bring that to action at a particular level in their journey towards delivering a better customer experience. With ever-increasing customer expectations, banks often achieve unparalleled customer experience Key takeaways from the whitepaper on “Roadmap to Omni-Channel Customer...