Originally published 20 March 2020, updated 20 April 2020
The EU Short Selling Regulation (Regulation (EU) no. 236/2012) (the SSR) has, since 1 November 2012, regulated short selling and sovereign credit default swaps (CDS) in the EU.
The SSR imposes (i) a net short position reporting requirement for shares and sovereign debt, (ii) a prohibition on uncovered short sales of shares and sovereign debt and (iii) a prohibition on uncovered sovereign CDS.
ESMA launches a public consultation to crack the uncrackable problem of how pensions funds participate in clearing whilst CCPs only accept cash for variation margin
A new regulatory timetable is starting to emerge due to Coronavirus (COVID-19). The recent announcements of a delayed commencement to SFTR (Securities Financing Transactions Regulation) could cause a bottleneck for firms due to timelines clashing with the CSDR (Central Securities Depositories Regulations) and Uncleared Margin Rules (UMR) over the next two years.
Should Phase 5 of UMR be Delayed? The September 2020 deadline isn't far away. Is the impact of the virus a material change to the ability of firms to prepare? Hear what 21 trade associations think.
Recognising the upheaval caused by COVID-19 on financial markets, ESMA has made a number of announcements -
SFTR - It has postponed, by three months, the reporting obligations related to securities financing transactions under the Securities Financing Transactions Regulation and under Markets in Financial Instruments Regulation.
The European trade repository REGIS-TR is partnering with GLMX to provide a hosted reporting service for Securities Finance Transaction Regulation (SFTR).
Clients will be able to use GLMX’s pre- and post-trade platformand then delegate their reporting to GLMX to report their securities finance transactions to REGIS-TR under SFTR.