ESMA publishes final report on FRANDT commercial terms for clearing services

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator has published its final report with technical advice to the European Commission (EC) on the fair, reasonable, non-discriminatory and transparent (FRANDT) commercial terms for the provision of clearing services.

ESMA’s technical advice details how to specify the conditions under which the commercial terms for the provision of clearing services are to be considered FRANDT. The final report containing ESMA’s technical advice takes into account the feedback received, aiming to strike a balance...