What is the purpose of EMIR?

The European Market Infrastructure Regulation, or EMIR, is an EU regulation designed to increase transparency and reduce systemic risk in the derivatives market.
EMIR introduced a number of obligations for certain parties entering into derivative transactions. These may include reporting derivative contracts to a trade repository, clearing certain OTC derivatives through a central counterparty, and applying risk mitigation procedures for non-centrally cleared derivatives.
The specific obligations depend on the client’s classification, the type of derivative traded and the applicable regulatory requirements.

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