Central counterparty (Clearing)

Finansinspektionen is the competent authority according to Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR). This means that FI assesses the applications, registrations and notifications that can or must be submitted according to the regulation. As the competent authority, FI must also conduct supervision of central counterparties.

Authorisation

Swedish firms intending to provide clearing services as a central counterparty are required to receive authorisation from FI (Article 14 of EMIR). This authorisation applies to the entire EU. A Swedish central counterparty wishing to extend its business must submit a request for extension (Article 15 of EMIR). An application for authorisation is processed in accordance with Article 17, but there is also an accelerated procedure in Article 17(a) of EMIR that can be applied for an extension under certain circumstances.

Management assessment, owner assessment and owner management assessment

A central counterparty must submit to FI notification of changes to its board of directors or senior management and the information necessary to assess continued compliance with the requirements set out in Article 27 of EMIR.

All parties intending to acquire or increase, directly or indirectly, a qualifying holding in a central counterparty such that the holding amounts to or exceeds 10, 20, 30 or 50 percent or so that the central counterparty would become a subsidiary must first apply to FI for an owner assessment. Furthermore, all parties intending to fully dispose of or reduce such a qualifying holding in a central counterparty so that the holding falls below 10, 20, 30 or 50 percent or entails that the central counterparty ceases to be a subsidiary must first report this to FI. Changes in the management of a legal person holding a qualifying holding in a central counterparty must also be reported to FI for assessment.

Management assessment, owner assessment and owner management assessment are regulated primarily by Articles 27 and 30–32 of EMIR.

Fees

FI may charge fees for assessing applications for authorisation and notifications pursuant to EMIR. Provisions regarding these fees are set out in Fees for FI (Assessment) Ordinance (2001:911) (see sections 3, 4, 5a and the appendix).

Derivative trading

Read more on the following website about EMIR, derivative trading and application for exemption from requirements to clear transactions, pledge collateral and report transactions: Derivative trading (EMIR).

Contact FI

Email questions related to EMIR and the assessments listed above to finansinspektionen@fi.se.

Last reviewed: 2025-04-14