Regulatory Alerts2025-06-25
Added · Updated
EMIR 3 Active Account Requirement
EMIR 3 introduces an Active Account Requirement mandating certain financial and non-financial counterparties to maintain a functional account with EU central counterparties to mitigate risks from exposures to systemically important third-country CCPs. Institutions must ensure operational capability for large transaction volumes and, unless exempted by a cleared notional value below €6 billion, clear a representative minimum of their derivatives portfolio through this account. Affected entities are required to notify ESMA and national competent authorities, submitting periodic reports on activities, risks, and operational status every six months, alongside annual reporting on clearing volumes and margins for those trading via non-EU CCPs.