ESMA has submitted to the Commission its additional draft RTS on the central clearing of interest rate swaps (IRS) under EMIR. The RTS propose the mandatory central clearing of fixed-to-float IRS and forward rate agreements denominated in Norwegian Krone, Polish Zloty and Swedish Krona. Significant trading volumes exist in these denominations, and these contracts are of important systemic relevance for both the specific local markets and the EU as a whole. The Commission adopted the first set of RTS on the clearing obligation for certain classes of OTC interest rate derivatives denominated in the G4 currencies in August (see FReD 7 August). The Commission now has three months in which to approve the draft. (Source: ESMA Submits Additional RTS on IRS Central Clearing)