Article 4(1) (b) of ΕΜΙR requires OTC derivative transactions relating to certain classes of OTC derivatives (and which are deemed subject to clearing) to be cleared centrally through a recognised Central Counterparty (CCP).
ΜΑΡ-ClearConnect is a connectivity service, which upon ΕΜΙR clearing mandate approvals for specific derivative classes is ready to connect your organisation with the CCP or clearing members of your choice.
The service had been designed for quick and simple implementation and its software and IT requirements are minimal. Utilizing one connection, the solution links users with all ESMA approved CCPs, delivering a central ΕΜΙR clearing solution ready for implementation as soon as regulations are announced.
• Connectivity to the Central Counterparty or Clearing Member of your choice
• Flexible and configurable transformation, routing and matching service
• Provision of full ΕΜΙR reporting package by providing access when required
• Enhanced portability for the novation of trades for FCs and NFCs+ prior to reaching TRs
• Service includes frontloading requirement of trades connectivity as per ESMA guidelines
• Reduction of costs for executing brokers clearing cash equities
• Efficient capital allocation based on counterparty relationships
• Reflects changes in market conditions and risk positions
• No necessity for enquiries as Polaris platform routes customers when requested