On 29 January 2026 the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) issued a joint consultation on a small but consequential part of the Hong Kong OTC clearing rules: the calculation periods that decide when a firm is caught by the mandatory clearing obligation. The regulators proposed to stop adding…
The number that decides whether a firm falls inside the EU clearing obligation is about to be measured differently. Under EMIR 3, Regulation (EU) 2024/2987, the EMIR 3 clearing thresholds stop asking how much a counterparty trades over the counter and start asking how much it leaves uncleared. On 25 February 2026 ESMA published its…
On 6 July 2026 the European Securities and Markets Authority (ESMA) selected Etrading Software (Netherlands) B.V. to run the EU’s OTC derivatives consolidated tape, naming it the consolidated tape provider for over-the-counter derivatives under the Markets in Financial Instruments Regulation (MiFIR). It is the third and last asset class under Article 27da of MiFIR to…