Article 4 (2) EMIR prescribes that intra-group transactions as defined in Article 3 EMIR may be exempted from clearing obligations pursuant to Article 4 (1) EMIR.
Pursuant to Article 4 (2) EMIR Austrian counterparties are obliged to inform the Financial Market Authority, if they wish to make use of the exemption from clearing obligations for intra-group transactions. This obligation applies both to financial counterparties in accordance with Article 2 point 8 EMIR as well as to non-financial counterparties in accordance with Article 2 point 9 EMIR.
The notification in accordance with Article 4 (2) EMIR must be made at least 30 calendar days prior to making use of this exemption.
The conditions for an exemption are to be clarified with detailed information. To ensure a consistent procedure, the following template must be used for this purpose: Risk Management Template. A sample template can be found at the link below: Risk Management Template SAMPLE Group members must be manually entered in the IGT tool or uploaded via the .csv file. In case of submission via upload, the following .csv file must be used: (csv-File) The User Manual (IGT-Manual 2.0) (available in German only) contains a description of the registration process as well as instructions for the submission of notifications to the Financial Market Authority. A declaration must first be submitted (Declaration) to the Financial Market Authority. The declaration in the annex must be submitted by the counterparty seeking an exemption from clearing obligations for intra-group transactions pursuant to Article 4 (2) EMIR from the Financial Market Authority using the EMIR-IGT Tool. The declaration must be sent to the following e-mail address: IGT@fma.gv.at