‘EMIR’ (the European Market Infrastructure Regulation) is the central pillar of a wide-ranging programme of regulatory reform for the derivate market, based on G20 commitments following the financial crisis of 2008. The regulation is aimed specifically at increasing transparency and reducing counterparty default risk in the OTC derivative market.
The MiFID II directive introduces a range of measures, which seek to address consequences of MiFID I, and issues raised by the financial crisis, such as making financial markets more efficient, resilient and transparent, improving investor protection. This revision will have a significant impact on both business strategy and operational processes implemented by firms.
By the end of the MasterClass, the participants will understand
• The OTC derivatives market
• The EMIR directive and its impacts on the operational treatment
• The operational impacts on eligible and non eligible products for clearing
• The MIFID 2 directive
• The operational impacts of the directive for the banks, brokers and asset managers