Regulatory Alerts2026-02-06
Added · Updated
Commission Delegated Regulation (EU) 2026/305 on operational conditions, representativeness obligation and reporting for the active account requirement
Counterparties subject to the active account requirement under Regulation (EU) No 648/2012 must demonstrate operational capacity, including IT connectivity and stress-testing, to withstand large increases in clearing activity. The regulation mandates that counterparties clear a minimum number of trades in specific subcategories of interest rate OTC derivatives denominated in euro or Polish zloty to ensure representativeness, with reference periods varying from one to twelve months based on notional volume thresholds. Additionally, counterparties are required to submit semi-annual reports to competent authorities detailing aggregate thresholds, operational compliance, and representativeness metrics using specified templates, with the first submission due no earlier than six months after 26 February 2026.