EMIR 3.0: New rules for trading and clearing derivatives in the EU

10 December 2024

New rules for trading and clearing derivatives in the EU will apply from 24 December 2024. These rules will impact EU counterparties which trade derivatives as well as their trading partners.

The EMIR 3.0 package includes a range of measures to increase clearing at EU CCPs and reduce EU participants' reliance on UK CCPs. These measures include a new obligation for some EU counterparties to establish active accounts at EU CCPs and clear a 'representative' number of trades through these accounts.

This briefing provides an overview of the new active account obligation and other changes that will impact counterparties which trade and clear derivatives in the EU.

For further information and resources on EMIR, see the Topic Guide on the Clifford Chance Financial Markets Toolkit.

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