KAS Focus on EMIR

With KAS Focus we keep our clients abreast of current developments in the markets and in KAS BANK's service provision. In this edition of KAS Focus you will find information on the latest developments in the implementation of the European Market Infrastructure Regulation (EMIR).


• Assumption; clearing obligation will not be announced by ESMA earlier than 2014, mandated by European Commission not earlier than Q4 2014. Keep in mind that after announcement of obligation all trades done after announcement will have to be back-loaded.

• Listed derivative (ETD) reporting could be covered by existing MiFID reporting, the obligation to report is postponed till January 1st, 2014.

• AFM will check transaction reporting (when go live takes place). AFM quote: “We will check if everybody (also non financials) complies with reporting requirement when mandated AND we will tackle any issues not directly but WE WILL.”

Read our KAS Focus on EMIR.