What changes on 24/12/2024

The text in force from 12/08/2022 compared with the text from 24/12/2024, which includes the changes made by Regulation (EU) 2024/2987.

Read the act as of 24/12/2024 · other versions: 01/01/2020 · 18/06/2020 · 11/02/2021 · 13/02/2021 · 28/06/2021 · 12/08/2022 · 17/01/2025

Title I

• amended Article 1 - Subject matter and scope
• amended Article 3 - Intragroup transactions

Title II

• inserted Article 4b - Post-trade risk reduction services
• inserted Article 7a - Active account
• inserted Article 7b - Monitoring of the active account obligation
• inserted Article 7c - Information on the provision of clearing services
• inserted Article 7d - Information on clearing activity in CCPs recognised under Article 25
• inserted Article 7e - Information on Union CCPs
• amended Article 4 - Clearing obligation
• amended Article 5 - Clearing obligation procedure
• amended Article 6 - Public register
• amended Article 6b - Suspension of clearing obligation in the case of resolution
• amended Article 7 - Access to a CCP
• amended Article 9 - Reporting obligation
• amended Article 11 - Risk-mitigation techniques for OTC derivative contracts not cleared by a CCP
• amended Article 12 - Penalties
• amended Article 13 - Mechanism to avoid duplicative or conflicting rules with regard to OTC derivative contracts not cleared by a CCP

Title III › Chapter 1

• inserted Article 15a - Exemption from authorisation of an extension of clearing services or activities
• inserted Article 17a - Accelerated procedure for authorisation of an extension of authorisation
• inserted Article 17b - Procedure for adopting decisions, reports or other measures
• inserted Article 17c - Central database
• amended Article 14 - Authorisation of a CCP
• amended Article 15 - Extension of activities and services
• amended Article 17 - Procedure for granting and refusing authorisation
• amended Article 18 - College
• amended Article 19 - Opinion of the college
• amended Article 20 - Withdrawal of authorisation
• amended Article 21 - Review and evaluation

Title III › Chapter 3

• inserted Article 23b - Joint Monitoring Mechanism
• amended Article 23a - Supervisory cooperation between competent authorities and ESMA with regards to authorised CCPs
• amended Article 24 - Emergency situations

Title III › Chapter 3A

• amended Article 24a - CCP Supervisory Committee
• amended Article 24b - Consultation of central banks of issue

Title III › Chapter 4

• amended Article 25 - Recognition of a third-country CCP
• amended Article 25a - Comparable compliance
• amended Article 25b - Ongoing compliance with the conditions for recognition
• amended Article 25f - Request for information
• amended Article 25o - Amendments to Annexes III and IV
• amended Article 25p - Withdrawal of recognition

Title IV › Chapter 1

• amended Article 26 - General provisions
• amended Article 27 - Senior management and the board
• amended Article 28 - Risk committee
• amended Article 30 - Shareholders and members with qualifying holdings
• amended Article 31 - Information to competent authorities
• amended Article 32 - Assessment
• amended Article 35 - Outsourcing

Title IV › Chapter 2

• amended Article 37 - Participation requirements
• amended Article 38 - Transparency
• amended Article 39 - Segregation and portability

Title IV › Chapter 3

• inserted Article 49a - Accelerated procedure for non-significant changes to a CCP’s models and parameters
• amended Article 40 - Exposure management
• amended Article 41 - Margin requirements
• amended Article 44 - Liquidity risk controls
• amended Article 46 - Collateral requirements
• amended Article 48 - Default procedures
• amended Article 49 - Review of models, stress testing and back testing

Title IV › Chapter 4

• amended Article 50a - Calculation of KCCP

Title V

• amended Article 54 - Approval of interoperability arrangements

Title VII

• amended Article 81 - Transparency and data availability
• amended Article 82 - Exercise of the delegation

Title IX

• amended Article 85 - Reports and review
• amended Article 86 - Committee procedure
• amended Article 89 - Transitional provisions
• amended Article 90 - Staff and resources of ESMA

Outside any heading

• amended Annex III - List of infringements referred to in Article 25j(1)