ESMA final draft RTS on CCP admission criteria elements

The European Securities and Markets Authority (ESMA) has published its final report with final regulatory technical standards (RTS) on the elements that central counterparties (CCPs) should consider when setting admission criteria for clearing members. The RTS were developed under the revised European Market Infrastructure Regulation (EMIR 3), which amended the CCP participation requirements framework, including by allowing for non-financial counterparties (NFCs) to become clearing members, subject to requirements. The RTS do not prescribe specific admission criteria; instead, they establish a harmonised set of factors that CCPs should take into account when assessing the applicants, including NFCs, and designing their participation requirements. The final draft RTS considers the feedback received through ESMA's October 2025 consultation and public hearing. The RTS have been submitted to the European Commission for endorsement and will subsequently be scrutinised by the European Parliament and the Council of the EU.

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