ESMA_QA_2811
Status: ⏳ Pending / Forwarded to EC
Regulatory Context
Level 1 Regulation: European Market Infrastructure Regulation (EMIR) Regulation (EU) No 648/2012- MDP
Topic: EMIR Reporting
Subject Matter: EMIR Article 7d
Question
Submission Date: 23-03-2026
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Scope of clients covered by Article 7d(1) EMIR Article 7d(1) also introduces reporting obligations for clients that clear contracts the client relationship concerned. In particular, it is unclear whether the term “clients” in Article 7d(1) should be understood as: • only direct clients of clearing members; or • both direct clients and indirect clients (i.e. clients accessing clearing services through intermediaries in a client clearing chain).
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Which clients are covered by the reporting obligation in Article 7d of EMIR?
ESMA Answer
No answer has been published yet for this question.
This document was automatically extracted from the ESMA EMIR Q&A database.