ESAs propose extending the EMIR equity option exemption
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ESAs propose extending the EMIR equity option exemption 21 December 2023Europe Reporter: Sophie Downes
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The European Supervisory Authorities (ESAs) have published the joint draft regulatory technical standards (RTS) under the European Market Infrastructure Regulation (EMIR).
The ESAs are composed of the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority.
The RTS aims to provide clarity to market participants on how to handle equity options from 4 January 2024, when the current temporary exemption is set to expire.
More specifically, the ESAs are proposing to extend the temporary exemption and are issuing a no-action opinion which includes clarifications on the supervisory expectations.
This interim solution comes amid the ongoing EMIR Review negotiations, which is expected to provide a decision regarding the treatment of equity options with respect to bilateral margining.
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