What is it?
The European Market Infrastructure Regulation (EMIR), which sets out to increase stability within the over-the-counter (OTC) derivative markets. It is part of an international effort to tackle the problems with the OTC market highlighted during the financial crisis by the near-collapse of Bear Sterns in March 2008, the default of Lehman Brothers in September 2008, and the bail-out of AIG also in September 2008.
