EMIR College for Central Counterparties
The EMIR College is the designation
given to a group of national and supranational supervisors – the case of ESMA –
considered relevant for the granting of authorisation in the European Union for
a given central counterparty (CCP), and for the supervision of its activity.
Whenever a CCP is authorised in the European Union, an EMIR College specific to
that CCP shall be set up.
The constitution of this College
results from the application of the European Regulation commonly referred to as
EMIR, as the acronym for the English designation "European Market
Infrastructure Regulation", concerning derivatives traded outside the
market (over-the-counter), central counterparties, and trade repositories, and
which establishes uniform organisational, prudential, and conduct requirements
for the activities carried out by central counterparties (CCPs).
At present, the only central
counterparty established in Portugal is OMIClear C.C., S.A., which was authorised
by the CMVM in October 2014.