(39)Regulation (EU) No 648/2012 lays down the conditions under which non-discriminatory access between CCPs and trading venues should be granted for OTC derivatives. Regulation (EU) No 648/2012 defines OTC derivatives as derivatives whose execution does not take place on a regulated market or on a third-country market considered as equivalent to a regulated market in accordance with Article 19(6) of Directive 2004/39/EC. In order to avoid any gaps or overlaps and to ensure consistency between Regulation (EU) No 648/2012 and this Regulation, the requirements set out in this Regulation on non-discriminatory access between CCPs and trading venues apply to derivatives traded on regulated markets or on a third-country market considered as equivalent to a regulated market in accordance with Directive 2014/65/EU and all non-derivative financial instruments.
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New version applies from 01/07/2016 — introduced by Regulation (EU) 2016/1033.
90 provisions change.
Later versions: 26/03/2020, 04/07/2020, 26/06/2021, 01/01/2022, 09/01/2024, 28/03/2024, 04/12/2024, 17/01/2025.
Recital 39 changes in this version: compare with the current text.