{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"from:2022-11-29","held_since":"2022-11-29","gaps":[],"covered":["149/2013 — RTS — Indirect clearing, clearing obligation, public register [in force] L2"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-26","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register/articles/12","url":"https://www.headlesslaw.com/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register/articles/12","title":"Article 12 — (Article 11(14)(a) of Regulation (EU) No 648/2012)","family":"l2_unit_view","work_id":"spaces/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register","view_of":"/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register","status":"in_force","force_status":"in_force","date_state":"current","requested_date":null,"as_of":"2026-11-02","applies_from":null,"application":null,"version_label":"Consolidated version of 29 November 2022","check":{"against":"EUR-Lex","on":"2026-10-26"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02013R0149-20221129","valid_from":"2013-03-15","valid_until":null,"content_id":"3631e8b7131b9ca9","versions":["2013-03-15"],"version_url":"https://www.headlesslaw.com/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register/articles/12/versions/2022-11-29","revision_url":"https://www.headlesslaw.com/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register/articles/12/versions/2022-11-29/rev/3631e8b7131b9ca9","versions_url":"https://www.headlesslaw.com/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register/articles/12/versions","relations_url":"https://www.headlesslaw.com/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register/articles/12/relations","act_url":"https://www.headlesslaw.com/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register#art-12","source_line":"Commission Delegated Regulation (EU) No 149/2013 · binding · OJ L 52, 23.2.2013 · dated 19 Dec 2012 [in force]","attribution":{"prepared_by":"European Commission","published_by":"Publications Office of the EU","published_in":"Official Journal of the European Union","document_type":"delegated_regulation","legal_nature":"binding_adopted","addressees":"not stated in the document","dates":{"document_date":"2012-12-19","entry_into_force":"2013-03-15","locators":{"document_date":"CELLAR 32013R0149 work_date_document","entry_into_force":"CELLAR 32013R0149 resource_legal_date_entry-into-force (earliest)"}},"adoption":null},"context":{"act":{"work_id":"spaces/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register","path":"/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register","name":"Commission Delegated Regulation (EU) No 149/2013","number":"149/2013","celex":"32013R0149","title_official":"COMMISSION DELEGATED REGULATION (EU) No 149/2013 of 19 December 2012 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on indirect clearing arrangements, the clearing obligation, the public register, access to a trading venue, non-financial counterparties, and risk mitigation techniques for OTC derivatives contracts not cleared by a CCP (Text with EEA relevance)","document_date":"2012-12-19"},"position":{"kind":"article","key":"12","index":14,"articles":23,"annexes":0},"prev":{"path":"/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register/articles/11","key":"11","title":"Article 11 — (Article 10(4)(b) of Regulation (EU) No 648/2012)"},"next":{"path":"/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register/articles/13","key":"13","title":"Article 13 — (Article 11(14)(a) of Regulation (EU) No 648/2012)"},"act_anchor":"#art-12"}},"provenance":{"official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02013R0149-20221129","check":{"result":"matched","checked_at":"2026-10-26","against":"EUR-Lex"},"repo_path":"spaces/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register.md","unit_text_sha256":"7b2827e11024f1a9d464c0cbea1b51531e258d5ebe9ae6e40487a3a5f2790a1e","note":"the unit is a byte-exact part of the act page, whose check record covers it"},"unit":{"locator":"spaces/emir/level-2/rts/149-2013-indirect-clearing-clearing-obligation-public-register/art-12","kind":"article","key":"12","heading":"Article 12 — (Article 11(14)(a) of Regulation (EU) No 648/2012)","text":"## <a id=\"art-12\"></a>Article 12 — (Article 11(14)(a) of Regulation (EU) No 648/2012)\n\nTimely confirmation\n\n1. <a id=\"art-12-p-1\"></a>An OTC derivative contract concluded between financial counterparties or non-financial counterparties referred to in [Article 10](../../articles/10.md) of Regulation (EU) No 648/2012 and which is not cleared by a CCP shall be confirmed, where available via electronic means, as soon as possible and at the latest:\n\n    <a id=\"art-12-p-1-a\"></a>**(a)** for credit default swaps and interest rate swaps that are concluded up to and including 28 February 2014, by the end of the second business day following the date of execution of the OTC derivative contract;\n\n    <a id=\"art-12-p-1-b\"></a>**(b)** for credit default swaps and interest rate swaps that are concluded after 28 February 2014, by the end of the business day following the date of execution of the OTC derivative contract;\n\n    <a id=\"art-12-p-1-c\"></a>**(c)** for equity swaps, foreign exchange swaps, commodity swaps and all other derivatives not provided for in point (a) that are concluded up to and including 31 August 2013, by the end of the third business day following the date of execution of the derivative contract;\n\n    <a id=\"art-12-p-1-d\"></a>**(d)** for equity swaps, foreign exchange swaps, commodity swaps and all other derivatives not provided for in point (a) that are concluded after 31 August 2013 up to and including 31 August 2014, by the end of the second business day following the date of execution of the derivative contract;\n\n    <a id=\"art-12-p-1-e\"></a>**(e)** for equity swaps, foreign exchange swaps, commodity swaps and all other derivatives not provided for in point (a) that are concluded after 31 August 2014, by the end of the business day following the date of execution of the derivative contract.\n\n2. <a id=\"art-12-p-2\"></a>An OTC derivative contract concluded with a non-financial counterparty not referred to in [Article 10](../../articles/10.md) of Regulation (EU) No 648/2012, shall be confirmed as soon as possible, where available via electronic means, and at the latest:\n\n    <a id=\"art-12-p-2-a\"></a>**(a)** for credit default swaps and interest rate swaps that are concluded up to and including 31 August 2013, by the end of the fifth business day following the date of execution of the OTC derivative contract;\n\n    <a id=\"art-12-p-2-b\"></a>**(b)** for credit default swaps and interest rate swaps that are concluded after 31 August 2013 up to and including 31 August 2014, by the end of the third business day following the date of execution of the OTC derivative contract;\n\n    <a id=\"art-12-p-2-c\"></a>**(c)** for credit default swaps and interest rate swaps that are concluded after 31 August 2014, by the end of the second business day following the date of execution of the OTC derivative contract;\n\n    <a id=\"art-12-p-2-d\"></a>**(d)** for equity swaps, foreign exchange swaps, commodity swaps and all other derivatives not provided for in point (a) that are concluded up to and including 31 August 2013, by the end of the seventh business day following the date of execution of the derivative contract;\n\n    <a id=\"art-12-p-2-e\"></a>**(e)** for equity swaps, foreign exchange swaps, commodity swaps and all other derivatives not provided for in point (a) that are concluded after 31 August 2013 up to and including 31 August 2014, by the end of the fourth business day following the date of execution of the derivative contract;\n\n    <a id=\"art-12-p-2-f\"></a>**(f)** for equity swaps, foreign exchange swaps, commodity swaps and all other derivatives not provided for in point (a) that are concluded after 31 August 2014, by the end of the second business day following the date of execution.\n\n3. <a id=\"art-12-p-3\"></a>Where a transaction referred to in paragraph 1 or 2 is concluded after 16.00 local time, or with a counterparty located in a different time zone which does not allow confirmation by the set deadline, the confirmation shall take place as soon as possible and, at the latest, one business day following the deadline set in paragraph 1 or 2 as relevant.\n\n4. <a id=\"art-12-p-4\"></a>Financial counterparties shall have the necessary procedure to report on a monthly basis to the competent authority designated in accordance with Article 48 of Directive 2004/39/EC of the European Parliament and of the Council the number of unconfirmed OTC derivative transactions referred to in paragraphs 1 and 2 that have been outstanding for more than five business days.\n\n","marks":[],"text_hash":"7b2827e11024f1a9d464c0cbea1b51531e258d5ebe9ae6e40487a3a5f2790a1e","revision":1}}