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Novità per gli Energy Derivatives

Laura Pibiri    Dottoranda di ricerca in Diritto, mercato, persona nell'Università Ca' Foscari Venezia    



Following the global financial crisis, a new regulatory framework regarding derivatives regulation has arisen from the combined provisions of MiFID II, MiFIR and EMIR, aimed to make financial markets more efficient and transparent and to increase investor protections. In detail, MiFID II and MiFIR have introduced important changes particularly in relation to the definition of “financial instrument” and the exemptions defining the regulatory perimeter. Interpretative doubts arising from current regulations have resulted in clarifying interventions of European Authorities such as ESMA and ACER. Furthermore, EMIR has introduced provisions to improve transparency, establish common rules for central counterparties and for trade repositories and to reduce the risks associated with OTC derivatives market.

30 Dicembre 2015
Copyright: © 2015 Laura Pibiri. This is an open-access work distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction is permitted, provided that the original author(s) and the copyright owner(s) are credited and that the original publication is cited, in accordance with accepted academic practice. The license allows for commercial use. No use, distribution or reproduction is permitted which does not comply with these terms.