> For the complete documentation index, see [llms.txt](https://www.headlesslaw.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.headlesslaw.com/emir/level-3/q-and-a/esma/esma-qa-888-application-of-the-exemptions-to-title-iv-of-emir.md).

# ESMA Q\&A 888 — Q\&A — Application of the exemptions to Title IV of EMIR \[Answer Published]

*Answer Published · ESMA publication · Checked against the ESMA publication on 11 Oct 2026 ·* [*Official source*](https://www.esma.europa.eu/publications-data/questions-answers/888)

|                         |                                                                                              |
| ----------------------- | -------------------------------------------------------------------------------------------- |
| **Full title**          | ESMA Q\&A 888 — Q\&A — Application of the exemptions to Title IV of EMIR \[Answer Published] |
| **Issuer**              | ESMA                                                                                         |
| **Reference**           | ESMA\_QA\_888                                                                                |
| **Document type**       | Q\&A                                                                                         |
| **Date**                | published 03/05/2023; answer 11-02-2014                                                      |
| **Addressees**          | Not recorded                                                                                 |
| **Legal basis**         | Article 1 of EMIR - old CCP question 19 dated 11/02/2014                                     |
| **Related instruments** | None recorded                                                                                |
| **Text on this page**   | Word for word — the full text of the ESMA publication                                        |

**Application of the exemptions to Title IV of EMIR (old CCP question 19 dated 11/02/2014)**

#### Question

Do the obligations on CCPs and their clearing members under Title IV of EMIR apply in respect of clearing members which are exempt entities under Articles 1(4) and (5) of EMIR?

***

#### Answer

The exemption in Articles 1(4) and (5) of EMIR do not extend beyond the requirements which would otherwise be directly applicable to exempt entities, i.e. clearing, risk mitigation and reporting obligations under (4), and clearing and risk mitigation obligations under (5). In particular, the exemption does not extend to indirect requirements which are placed on exempt entities, or to requirements which apply directly to third party entities, for example the exemption does not suspend the risk management obligations imposed on CCPs under Title IV of EMIR where the CCP admits exempt entities as clearing members.

***

### Related Level 1 articles

* [Article 1 — Subject matter and scope](/emir/articles/1.md)