Central party clearing for OTC derivatives

[Edward chong]

Hi all,

I have read the EMIR note posted about a year ago, I would like to ask:
a) are there any changes to the rules in the EMIR note? If yes, where can I find the changes.

b) do over-the-counter longevity swaps need to be cleared via a central clearing house? If yes, is there any existing literature that I can refer to? If no, what are the reasons of not having this implemented?

Thank you!

 

[Mike Lewry]

The FCA page on EMIR provides useful updates: http://www.fca.org.uk/firms/markets/international-markets/emir

A few relevant facts are:

Occupational pension funds are largely exempt from the main central
clearing requirement until at least the end of 2015, so don't need to clear any swaps.

More generally, firms must arrange for all derivative contracts deemed
“clearing eligible” by the ESMA to be centrally cleared by a CCP. As far as I know, longevity swaps aren't included. Can any practitioners confirm this?

Non-financial counterparties will be subject to clearing requirements only if their derivatives positions exceed the clearing threshold set out under EMIR.

 

[Edwin]

The FCA page on EMIR provides useful updates: http://www.fca.org.uk/firms/markets/international-markets/emir

A few relevant facts are:

Occupational pension funds are largely exempt from the main central
clearing requirement until at least the end of 2015, so don't need to clear any swaps.

More generally, firms must arrange for all derivative contracts deemed
“clearing eligible” by the ESMA to be centrally cleared by a CCP. As far as I know, longevity swaps aren't included. Can any practitioners confirm this?

Non-financial counterparties will be subject to clearing requirements only if their derivatives positions exceed the clearing threshold set out under EMIR.

Hi Mike, can a normal clearing house become a CCP?

http://www.acted.co.uk/forums/showthread.php?t=10774

Thanks for the post on EMIR