Financial markets infrastructure policy

The Commission aims to enhance the resilience of market infrastructure and to achieve an integrated, safe and efficient post-trade environment in the EU.

Derivatives / EMIR

The European market infrastructure regulation (EMIR) lays down rules on OTC derivatives, central counterparties and trade repositories.

Recovery and resolution of central counterparties (CCPs)

A central clearing counterparty is a market infrastructure that acts as the counterparty to both sides of a transaction in a financial instrument.

Securities financing transactions (SFTs)

EU regulation increasing the transparency of securities financing markets so that they can be monitored and the risks identified.

Central securities depositories (CSDs)

EU legislation improving the safety and efficiency of securities settlement in Europe.

Settlement finality

EU law minimising risks associated with transfer of financial instruments and payments, especially linked to the insolvency of transaction participants.

Financial collateral arrangements

EU legal framework for the use of securities and cash as collateral in financial transactions.

Securities and claims ownership

The European Commission is working to make conflict of laws rules on securities and claims ownership more consistent across the EU.