Implementation of the obligation for central clearing of OTC derivatives under the European Market Infrastructure Regulation now seems imminent. The European Commission has adopted a Delegated Regulation that would impose a mandatatory clearing obligation for interest rate swap contracts entered into with any European counterparty. Market participants trading OTC IRS derivatives that are not centrally cleared should consider how they are categorised under this legislation and when they will need to implement central clearing.View full memo, EU Clearing Obligation for Interest Rate Swaps Looms
