For immediate release

EFAMA statement on preliminary trilogue agreement on EMIR Refit

Brussels, 6 February 2019 - EFAMA welcomes the preliminary agreement in trilogue on the EMIR Refit proposal.

EFAMA Director General Tanguy van de Werve commented: “The new rules are a positive outcome as they acknowledge the need to increase access to clearing by removing existing unnecessary obstacles. We welcome in particular the fact that the agreement recognises the impact of clearing for smaller market participants, which was an important point for us. Exempting small financial counterparts from the clearing obligation is the right approach.”

EFAMA looks forward to reviewing the details of the text of the agreement.

-- ENDS --