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On 15 March 2013 several key technical standards came into force, setting in motion the implementation timetable for the derivatives reforms under the EU regulation on OTC derivatives, central counterparties and trade repositories (EMIR).

As a result some of the EMIR obligations already apply whilst other obligations are deferred or subject to compliance schedules. Clifford Chance has produced an update of its illustrative timeline showing when the obligations under EMIR could begin to apply.

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