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ESMA Drafts EMIR RTS on non-EU OTC Derivative Counterparties with a Direct, Substantial and Foreseeable Effect within the EU
The European Securities and Markets Authority (ESMA) finalises clearing and risk mitigation obligations for non-EU OTC derivatives. The European Securities and Markets Authority (ESMA) has issued final draft regulatory technical standards (RTS) related to derivative transactions by non-European Union (EU) counterparties. The RTS implement provisions of the Regulation on OTC derivatives, central counterparties and trade repositories [European Market Infrastructure Regulation (EMIR)].