Recital 1

(1)Commission Delegated Regulations (EU) 2015/2205 ² , (EU) 2016/592 ³ and (EU) 2016/1178 ⁴ specify, among others, the dates from which the clearing obligation for contracts pertaining to the classes of over-the-counter (OTC) derivatives set out in the Annexes to those Delegated Regulations take effect. Article 3(2), first subparagraph, point (a), of those Delegated Regulations contain deferred dates of application for the clearing obligation for OTC derivative contracts concluded between counterparties which are part of the same group and where one counterparty is established in a third country and the other counterparty is established in the Union. Those deferred dates of application were necessary to ensure that such OTC derivative contracts were not subject to the clearing obligation before the adoption of an implementing act pursuant to Article 13(2) of Regulation (EU) No 648/2012.