International activity

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.