European Market Infrastructure Regulation

The regulation is numbered (EU) No 648/2012, is dated July 4, 2012, and entered into force on August 16, 2012¹. It has since been amended by Regulation (EU) 2019/834 (EMIR Refit) in 2019 and Regulation (EU) 2024/2987 (EMIR 3) in 2024². The clearing and risk management of OTC derivatives, the reporting of derivative contracts, and requirements for central counterparties and trade repositories are provided for in Article 1(1)³.

The main parties with obligations under EMIR are financial counterparties and non-financial counterparties. The contents of the clearing, risk-management, and reporting obligations are covered in the article on EMIR. EMIR as UK law is a version published on legislation.gov.uk that is separate from the EU regulation.

Notes

1. Regulation (EU) No 648/2012 of 4 July 2012 (the version published on legislation.gov.uk). ESMA, "Post-trading", first sentence of "European Markets Infrastructure Regulation (EMIR)". ↩

2. European Commission, "Derivatives / EMIR", "Relevant legislation": "OTC Derivatives, Central Counterparties and Trade Repositories Regulation 3 (EMIR 3) - 2024/2987/EU" and "EMIR Refit - 2019/834/EU". ↩

3. EMIR Article 1(1) (ESMA, Interactive Single Rulebook; retrieved October 3, 2026). ↩