EMIR: ESMA publishes list of pension schemes exempt from clearing obligation

ESMA has published a list of 16 UK-based pension schemes that are exempt from the obligation to centrally clear over the counter (OTC) derivative contracts under the European Market Infrastructure Regulation (EMIR). Certain pension schemes were granted a transitional exemption from the clearing obligation under EMIR and the 16 in the list have now been granted an extension from the Financial Conduct Authority (FCA), their national competent authority.