Regulatory Alerts2026-04-17
First Report on Active Clearing Account Requirement Must Be Submitted by 31 July
The Dutch Central Bank (DNB) and the Netherlands Authority for the Financial Markets (AFM) jointly require institutions subject to the EMIR 3 clearing obligation to submit their first report on compliance with the active clearing account requirement by 31 July 2026. The report must cover the period from 25 June 2025 to 30 June 2026 and should be submitted via email in CSV format using the specified reporting tables to ensure data uniformity. Additionally, the European Securities and Markets Authority (ESMA) has published supplementary guidance clarifying how firms must assess derivative representativeness and complete the required templates.
News
17/04/26
Institutions subject to the clearing obligation and meeting the conditions of Article 7a, paragraph 1 of EMIR 3 must submit their first report on the active clearing account requirement by 31 July 2026 at the latest. This report covers the period from 25 June 2025 to 30 June 2026. The Netherlands Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB) jointly urge companies to submit their reports in a timely and uniform manner.
In brief
• Submit first report by 31 July 2026 at the latest • New ESMA guidance available on representativeness • Submit report via email in CSV format
ESMA has published a template that companies are required to use starting from the second report. In addition, companies are requested to already use the reporting tables from the technical regulatory standards now, so that data is comparable and efficiently processable.
First report by 31 July 2026 at the latest Since 26 February 2026, the technical regulatory standards for the active clearing account requirement have entered into force, as part of the revised European Market Infrastructure Regulation (EMIR 3). Institutions subject to the clearing obligations and meeting the conditions of Article 7a, paragraph 1 are required to submit their first report by 31 July 2026 at the latest.
The report covers just over a year and must provide insight into how institutions have complied with the active clearing account requirement. Although the annexes containing the reporting tables are not yet formally applicable at the time of the first report, DNB and the AFM request companies to apply them now to ensure uniform data quality.
New guidance available on representativeness On 20 February 2026, the European Securities and Markets Authority (ESMA) published additional guidance on the representativeness obligation. This clarifies how institutions determine the most relevant subcategories of derivatives, how they assess whether they meet the representativeness requirement, and how they correctly fill in the corresponding templates. The guidance helps companies apply the obligations in a consistent manner.
Submit report via email in CSV format Companies supervised by the AFM can submit their report in July via email to mb_aar@afm.nl. Supervisory authorities request submission in CSV format so that data can be processed efficiently. For questions, institutions can contact their supervisory account manager for support in preparation.
Tags
(European) legislation and regulation
More information
Joint press release by DNB and AFM on the first report for the active clearing account requirement (EMIR 3)
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