First joint Report on the Luxembourg Derivatives Market

The Commission de Surveillance du Secteur Financier (CSSF) and Commissariat aux Assurances (CAA) present their first joint Report on the Luxembourg Derivatives Market.

This report aims to provide an overview of the state of play under EMIR, while also providing insights into the CSSF’s and the CAA’s ongoing efforts to improve the quality of the data.

The report contains two elements:

• In the section on market monitoring, an analysis of structures and trends in the Luxembourg derivatives market between the end of 2021 and the end June 2023, building on the indicators developed for risk monitoring purposes.
• In the section on supervision of the quality of EMIR data, the description of the new approach to monitoring data quality developed by ESMA and the NCAs and fully implemented in Luxembourg.

According to the data provided by the TRs, at the end of June 2023, the Luxembourg derivatives market was represented by slightly more than 914,000 open transactions amounting to a gross notional outstanding of around EUR 6,484 bn including both over-the-counter (OTC) and exchange-traded (ETD) derivatives.

Contact persons:

CSSF          Mr Andrea Gentilini                  (emir@cssf.lu)
CAA           Mr Luc Bulabois                         (emir@caa.lu)