pc
nid 94635
Aug 19, 2026
arahman@vixio.com
European Union
European Securities and Markets Authority
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1847 charsEuropean Securities and Markets Authority Consults on Reporting Framework for Third-Country Central Counterparty Clearing
The European Securities and Markets Authority (ESMA) launched a consultation on the reporting framework for clearing activity conducted by recognised third-country central counterparties (CCPs) under the European Market Infrastructure Regulation (EMIR).
The consultation addresses the reporting obligations that third-country CCPs must fulfil when providing clearing services to European market participants. EMIR establishes a comprehensive regulatory framework for derivatives trading, central clearing, and trade reporting across the European Union. Third-country CCPs—those established outside the EU—that are recognised to operate in EU markets must comply with specific reporting requirements to ensure regulatory transparency and market integrity.
ESMA's consultation seeks to clarify and potentially streamline the reporting framework applicable to these entities, focusing on simplification and burden reduction for CCPs while maintaining robust regulatory oversight. The consultation paper outlines the current reporting requirements and invites feedback from stakeholders, including CCPs, market participants, and other interested parties, on how the framework could be improved or clarified.
The consultation enables ESMA to gather evidence-based input on the practical implementation challenges, compliance costs, and potential enhancements to the reporting regime. This feedback will inform ESMA's development of final guidance or recommendations regarding third-country CCP reporting obligations under EMIR.
Stakeholders can submit responses to the consultation through ESMA's official channels. The outcomes of this consultation will contribute to ESMA's broader CCP simplification and burden reduction initiative, ensuring that regulatory requirements remain proportionate and effective.
**Reference:** ESMA12-2121844265-6008
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1773 charsEuropean Securities and Markets Authority Consults on Reporting Framework for Third-Country Central Counterparty Clearing
On August 18, 2026, the European Securities and Markets Authority (ESMA) launched a consultation on the reporting framework under Regulation (EU) 2024/2987 (EMIR 3) for clearing activity at recognised third-country central clearing counterparties (CCPs).
ESMA is consulting on proposed technical standards to implement the annual reporting requirement under Article 7d of EMIR 3, which requires clearing members and clients to report their clearing activity at recognised third-country CCPs. The proposed framework aims to minimise additional regulatory burden by reusing information available through existing reporting channels, with new reporting requirements limited to information not already accessible to ESMA or national competent authorities.
Key points regarding ESMA's approach to the development of the technical standards include:
The implementation of Article 7d of EMIR 3, including the development of the regulatory and implementing technical standards, should be considered in the broader context of the EU’s simplification and regulatory burden reduction agenda.
The regulatory technical standards (RTS) and implementing technical standards (ITS) provide an opportunity to ensure the new Article 7d reporting regime avoids duplication, inconsistent implementation and disproportionate compliance burdens.
The overarching principle is that firms should not be required to report information that is already reported under existing EU reporting regimes and that is already available to ESMA and national competent authorities.
Comments and feedback are welcome up until October 12, 2026 using the form found here . Responses can be submitted here . ESMA will consider the feedback to this consultation and expects to publish a final report in Q4 2026.