European Market Infrastructure Regulation
Central clearing of OTC derivatives
The Pension Fund for Technicians- and Bachelor of Engineering (ISP Pension) has signed a clearing broker agreement with Merrill Lynch International under which the latter conducts central clearing of ISP Pensions IRS OTC derivatives.
For the purpose of determining when the clearing obligation for G4 IRS and Index CDS applies for ISP Pension, ISP Pension is a so-called Category 3 counterparty.
Furthermore ISP Pension is a pension scheme arrangement within the meaning of Article 2(10)(d) of EMIR. ISP Pension has been granted exemption from the clearing obligation by the Danish Financial Supervisory Authority.
Please note that ISP Pension entered into delegated reporting agreements with all current counterparties.