About the Course

This course is about EU regulation no.648/2012 and covers its features & implications.

Course Contents

EMIR – Introduction

  • Covering counterparty credit risk, opertional risk & transparency
  • Overview of recitals, titles, chapters & articles

OTC Derivatives – Systemic Risk

  • Covering the snowball-effect which arose during the credit crisis
  • About OTC trading – The related processes & risks
  • Re master agreement, credit limits & credit support annex (CSA)

Central counterparties (CCPs) – Mandatory clearing

  • The clearing process – Authorisation & monitoring of CCPs
  • Rules for central counterparties, clearing members & clients
  • Reporting of cleared & non-cleared OTC derivatives

Collateralisation & Margining – Default fund Reporting & Trade Repositories

  • About allowed forms of collateral, haircuts & cash collateral
  • Initial & variation margin + highly liquid products + default fund

Reporting & Trade Repositories 

  • About reporting obligations for energy trading firms
  • About trade repositories, their role & data protection

Monitoring & Supervision

  • The role of ESMA and NRAs
  • About prudential requirements and other essentials

Regulatory implementing & technical standards – Additional acts

  • Covering Commission Implementing Regulation
  • Including Commission Delegated Regulation

US regulation: Dodd-Frank act

  • About global energy companies, and/or those active in the US
  • The role of US regulators

Consequences of EMIR

  • About costs, processes and systems
  • Concerning capital allocation and the compliance function

Exam & Certification