Emir: a road paved with good intentions?
EMIR has been designed by both EU Member States and institutions to prevent a repeat of the dysfunctions and lack of transparency in the OTC derivative market recorded during the 2008 financial crisis.
The vast range of new regulations applicable to the OTC derivative market since March 15, 2013 undeniably create major operational difficulties. Electronic reporting, portfolio monitoring, daily clearing means so many more of those participating in OTC derivatives now need to review back-office capabilities in order to meet these new requirements.
Both from a business and technological aspect, EMIR is a challenge.
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