Article 7c | EMIR | Regulation 648/2012

Article 7c - Regulation 648/2012 (EMIR)

Article 7c

Information on the provision of clearing services

Clearing members and clients that provide clearing services both at a CCP authorised under Article 14 and at a CCP recognised under Article 25 shall inform their clients, where the offer is available, of the possibility to clear their contracts through a CCP authorised under Article 14.

Notwithstanding Article 4(3a), clearing members and clients that provide clearing services to clients shall disclose, in a clear and understandable manner, for each CCP at which they provide clearing services, the fees to be charged to such clients for the provision of clearing services and any other fees charged including fees charged to clients which pass on costs, and other associated costs related to the provision of clearing services.

Clearing members and clients that provide clearing services shall provide the information referred to in paragraph 1:

(a)

when they establish a client clearing relationship with a client; and

(b)

at least on a quarterly basis.

ESMA, in consultation with EBA, shall develop draft regulatory technical standards to further specify the type of information referred to in paragraph 2.

ESMA shall submit the draft regulatory technical standards referred to in the first subparagraph to the Commission by 25 December 2025.

Power is delegated to the Commission to supplement this Regulation by adopting the regulatory technical standards referred to in the first subparagraph of this paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.

TITLE I - SUBJECT MATTER, SCOPE AND DEFINITIONS (Article 1-3)

TITLE II - CLEARING, REPORTING AND RISK MITIGATION OF OTC DERIVATIVES (Article 4-13a)Article 4 - Clearing obligation RTSDAQ&A Article 4a - Financial counterparties that are subject to the clearing obligation Q&A Article 4b - Post-trade risk reduction services Article 5 - Clearing obligation procedure RTSQ&A Article 6 - Public register RTSQ&A Article 6a - Suspension of clearing obligation Article 6b - Suspension of clearing obligation in the case of resolution Article 7 - Access to a CCP Article 7a - Active account Article 7b - Monitoring of the active account obligation Article 7c - Information on the provision of clearing services Article 7d - Information on clearing activity in CCPs recognised under Article 25 Article 7e - Information on Union CCPs Article 8 - Access to a trading venue RTS Article 9 - Reporting obligation ITSRTSQ&AGL Article 10 - Non-financial counterparties RTSQ&A Article 11 - Risk-mitigation techniques for OTC derivative contracts not cleared by a CCP RTSIAQ&A Article 12 - Penalties Q&A Article 13 - Mechanism to avoid duplicative or conflicting rules with regard to OTC derivative contracts not cleared by a CCP IAQ&A Article 13a - Amendments to legacy contracts for the purpose of the implementation of benchmark reforms

TITLE III - AUTHORISATION AND SUPERVISION OF CCPs (Article 14-25q)

TITLE IV - REQUIREMENTS FOR CCPs (Article 26-50d)

TITLE V - INTEROPERABILITY ARRANGEMENTS (Article 51-54)

TITLE VI - REGISTRATION AND SUPERVISION OF TRADE REPOSITORIES (Article 55-77)

TITLE VII - REQUIREMENTS FOR TRADE REPOSITORIES (Article 78-82)

TITLE VIII - COMMON PROVISIONS (Article 83-84)

TITLE IX - TRANSITIONAL AND FINAL PROVISIONS (Article 85-91)

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Level 2 legal acts

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Article 7c - Regulation 648/2012 (EMIR)

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