New EU EMIR clearing thresholds and calculation methods apply from 10 Nov 2026
EU derivatives clients must re-test counterparty-level clearing obligations against newly published EMIR thresholds and calculation methodologies that took effect on 10 November 2026.
Perkins Coie reports that revised EU EMIR clearing thresholds and calculation methodologies apply from 10 November 2026, changing how financial counterparties (FCs) and non-financial counterparties (NFCs) determine whether they sit above or below the relevant clearing thresholds. This cluster contains only that single firm alert, so specific threshold values and revised calculation methods are not in the evidence and should be verified against the underlying regulatory text.
Counsel should care because thresholds are the operative trigger for mandatory central clearing: an NFC above the threshold for an asset class must clear, a board-level capital and liquidity decision, not a documentation exercise. Revised methodologies can also move a firm across that line in either direction, changing which positions must be cleared and how contracts are classified as complex or non-complex.
Practical steps: re-test counterparty-level exposures against new thresholds, map affected entity groups to CCPs, and check that netting sets, CSAs and internal limits reflect recalculated figures. Watch for ESMA's next threshold update, national competent authority materials, and QCCP or client-clearing changes.