EU EMIR definition

EU EMIR means Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC Derivatives, Central Counterparties, and Trade Repositories, as amended from time to time

EU EMIR means the EU Regulation specified in Part 4 of the Schedule to the Regulations under the heading “European Markets Infrastructure Regulation”;

EU EMIR means the European Regulation 648/2012 of 4 July 2012, known as the European Market Infrastructure Regulation; EU GDPR means General Data Protection Regulation 2016/679; EU Insolvency Regulation means Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (recast);

Examples of EU EMIR in a sentence

• EU EMIR and the requirements under it impose certain obligations on parties to "over the counter" derivative contracts including (i) a mandatory clearing obligation for certain standardised OTC derivatives contracts, (ii) a margin posting obligation for OTC derivatives contracts not subject to clearing, (iii) other risk-mitigation techniques for OTC derivatives contracts not cleared by a central counterparty, and (iv) certain reporting and record-keeping requirements.

• Lower capital requirements for cleared trades are only available if the central counterparty is recognised as a 'qualifying central counterparty', which has been authorised or recognised under EMIR (in accordance with related binding technical standards).Pursuant to EMIR, counterparties can be classified as: (i) financial counterparties ("FCs") (which, following changes made by EU EMIR Refit 2.1, includes a sub-category of small FCs ("SFCs")), and(ii) non-financial counterparties ("NFCs").

• In the United Kingdom, EU EMIR and MiFID II/MiFIR (together, the "European Regulations") were either implemented directly or transposed into domestic law by a body of domestic legislation on or prior to 31 December 2020.

• The EU EMIR exposes EU energy firms to a substantial competitive disadvantage vis-à-vis firms from 3rd country jurisdictions because the latter are either not subject to the EU EMIR clearing rules or can make use of the more lenient OTC derivatives regime in their home jurisdictions.

• If the Issuer's counterparty status as an NFC- changes then the Issuer may become subject to greater obligations under EU EMIR including the Clearing Obligation (as such term is defined below).

• No assurances can be given that any future changes to EU EMIR would not cause the status of the Issuer to change and lead to an increased regulatory burden on the Issuer in respect of its hedging arrangements.

• This attached Benchmark Study of 4 October 2021 compared the EU EMIR rules with international standards for the clearing and margining obligations of non-financial firms (NFCs).

• However, the definition of eligible commercial risks for hedging under EU EMIR is rather restrictive and the privilege correspondingly narrow.Please note that the above-mentioned findings are explained in more depth in the attached Benchmark Study of 4 October 2021.

• If the Issuer is required to comply with certain obligations under EU EMIR that give rise to clearing, margin posting or additional costs and expenses for the Issuer, this may in turn reduce amounts available to make payments with respect to the Notes.

• Within the EU, EMIR and MiFIR fulfil the G20 commitments on improving the safety and transparency of over-the-counter (OTC) derivatives market as agreed in Pittsburgh in September 2009.

More Definitions of EU EMIR

EU EMIR means the EU Regulations specified in Part 5 of the Schedule to the Regulations under the heading “European Markets Infrastructure Regulation”, as it forms part of domestic law by virtue of section 3 of the 2018 Act; and

EU EMIR means Regulation (EU) 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories dated 4 July 2012, as amended by Regulation (EU) 2019/834 of the European Parliament and of the Council dated 20 May 2019 (including, without limitation, any associated regulatory technical standards and advice, guidance or recommendations from relevant supervisory regulators);

EU EMIR means the Regulation (EU) No 648/2012 of the European Parliament and the Council of 4 July 2012 on OTC Derivatives, Central Counterparties and Trade Repositories (as amended, varied or supplemented from time to time) and any technical guidelines and regulatory technical standards, further regulations, official guidance or official rules of procedures with respect thereto;

EU EMIR means Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories;