ESMA publishes technical standards on CCP admission criteria elements

EMIR 3 introduces amendments to the provisions on participation requirements in CCPs, including for non-financial counterparties (NFCs).

The RTS specify the elements which CCPs should consider when establishing their admission criteria for clearing members. This includes considerations related to NFC clearing members and sponsored membership models. The RTS do not set the actual admission criteria but instead define the elements for CCPs to consider.

ESMA conducted a public consultation on the draft RTS in the last quarter of 2025 and held a public hearing in November 2025. The Final Report considers the feedback received during this process.

Next steps

The RTS will now be submitted to the European Commission for endorsement, following which they will be subject to scrutiny by the European Parliament and the Council.

Further information:

Tayfun Yilmaz

Communications Officer
[email protected]