EMIR Update - Central Clearing To Begin

The clearing obligation under the European Market Infrastructure Regulation (“EMIR”) will start from 21 June 2016, after which firms will have to centrally clear certain classes of interest rate swaps (“IRS”). This follows the publication of the European Commission’s Delegated Regulation 2015/2205 on the central clearing of IRS in the EU’s Official Journal on 1 December 2015 (the “Delegated Regulation”).  

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