Recital 6

(6)ESMA conducted an open public consultation on the clearing thresholds for different asset classes and in particular on the clearing thresholds for commodity derivative asset classes. Given the limited scope of the amendment and its urgency in view of the rapidly increasing commodity prices, it would be highly disproportionate for ESMA to conduct an additional open public consultation on these draft regulatory technical standards. ESMA consulted the ESRB in accordance with Article 10(4), fourth subparagraph, of Regulation (EU) No 648/2012 and requested the advice of the Securities and Markets Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council. ³