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Article 10 › 1

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REGULATION (EU) No 648/2012 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (Text with EEA relevance) · European Union

Where a non-financial counterparty takes positions in OTC derivative contracts and those positions exceed the clearing threshold as specified under paragraph 3, that non-financial counterparty shall: (a) immediately notify ESMA and the competent authority referred to in paragraph 5 thereof; (b) become subject to the clearing obligation for future contracts in accordance with Article 4 if the rolling average position over 30 working days exceeds the threshold; and (c) clear all relevant future contracts within four months of becoming subject to the clearing obligation.

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DIRECTIVE 2014/65/EU OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of… (EU) · REGULATION (EU) No 600/2014 OF THE EUROPEAN PARLIAMENT AND OF THE… (EU) · Financial Services and Markets Act 2023 (GB) — sign in to see which provisions, and what they say.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04