Dear Commissioner Barnier,

I am writing to you to draw your attention to an issue that could have a significant detrimental effect on the consistent application of Regulation (EU) No 648/2014 on OTC derivatives, central counterparties and trade repositories (EMIR).

The matter is linked to the definition of derivative or derivative contract in EMIR, which refers to the list of financial instruments in Directive 2004/39/EC (MiFID). The different transpositions of MiFID across Member States mean that...

Read letter to Commissioner Barnier