This Clearing Member Disclosure Statement is being made available to our clients that may be entitled to the protections of EMIR.
EMIR 3.0
Regulation (EU) 2024/2987 (“EMIR 3.0”) was published in the Official Journal of the European Union (“EU”) on 4 December 2024, entering into force on 24 December 2024.
EMIR 3.0 amended the EU’s European Market Infrastructure Regulation (“EMIR”) to, among other things, introduce new or amended requirements for the providers of clearing services on an EU central counterparty (“CCP”) to provide their clients information related to:
- Article 7c(1) – where the offer is available, the possibility for the client to clear their contracts through an EU CCP (please see the Article 7c(1) Information Statement);
- Article 7c(2) – the fees charged for the provision of the clearing service and any other fees charged or associated costs related to the provision of the clearing services (please see your commission and fee document); and
- Article 38(8) – the margin models, procedures and requirements involved in clearing on the EU CCP (please see the Article 38(8) Disclosure Statement).
We may update the information available on our website from time to time and, where necessary, we may also provide further information on the above topics specific to a particular service or EU CCPs to our clients separately.
EMIR 3.0 also amended EMIR to introduce an amended requirement for all providers of clearing services on an EU CCP to provide their clients information related to:
- Article 38(9) – the potential losses or other costs that the client may bear as a result of the application of the default management procedures and loss and position allocation arrangements under the EU CCP’s operating rules (please see the CCPR Client Notification).
In accordance with CFTC Regulations the attached booklet contains disclosure statements which must be read, understood and acknowledged as applicable to Customer's Account on the signature page of the Futures and Cleared Derivatives Transactions Customer Agreement.
Links to Virtual Currency Derivative Advisories:
