FESE urges ESMA to consider the overall impact that its work on the EMIR Clearing Obligation will ultimately have on the final implementation of the MiFIR Trading Obligation. We support the implementation of the clearing mandate for IRS in line with the G20 commitments.

However, given that IRS and CDS have always been the main focus of the clearing obligation, we consider that ESMA should implement the clearing obligation for all IRS currencies

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