EC adopts Delegated Regulation specifying requirements for EMIR 3 active account requirement

The European Commission has adopted a Delegated Regulation supplementing the European Market Infrastructure Regulation (EMIR), setting out regulatory technical standards (RTS) for the new active account requirement introduced by EMIR 3. The RTS follow the European Securities and Markets Authority 2024 consultation and specify the operational conditions, representativeness obligations and reporting requirements for the active account mandate.

The RTS specify minimum operational conditions, including legal and technical arrangements to support clearing services and internal systems to handle increased clearing volumes. Firms must also conduct annual stress tests to demonstrate IT connectivity and operational readiness. Reporting is required every six months, with the first report due six months after the Regulation enters into force. The aim is to reduce systemic risk and strengthen the resilience of EU clearing infrastructure. The Regulation shall enter into force on the twentieth day following its publication in the Official Journal of the European Union.

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