Eurex Clearing AG: BaFin grants request for transitional arrangement for exchange-traded derivatives
With effect from 3 January 2018, Article 35 of the Markets in Financial Instruments Regulation (MiFIR) provides, in principle, that a trading venue has the right to non-discriminatory access to a CCP if certain conditions are met.
Pursuant to Article 54(2) of MiFIR, if a CCP submits an application, the competent authority may decide that, as regards exchange-traded derivatives, Article 35 of MiFIR will not apply for a transitional period until 3 July 2020.
Having thoroughly assessed the requirements, BaFin has approved such an application by Eurex Clearing AG with effect from 3 January 2018. Therefore, the company only has to apply Article 35 of MiFIR with regard to exchange-traded derivatives from 3 July 2020 onwards.