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
