European Markets Infrastructure Regulation
a.k.a. EMIR
EU rules from 2012 that require many derivative trades to be reported and, where possible, cleared…
In plain English
EU rules from 2012 that require many derivative trades to be reported and, where possible, cleared through a central counterparty.
EMIR was Europe's response to the 2008 crisis, when nobody could see who owed what in the derivatives market. It requires derivative trades to be reported to trade repositories, pushes standard contracts into central clearing and sets risk rules for the rest.
It mainly affects institutions, but it is part of why markets are more transparent than before 2008.
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