The European Commission intends to endorse, with amendments, draft RTS on risk mitigation techniques for OTC derivative contracts not cleared by a CCP under Article 11(15) of EMIR. The European Supervisory Authorities (ESAs) submitted the final draft RTS to the Commission in March 2016. The Commission explains that it intends to make a number of clarifications and restructure the legal text of the draft RTS. The amendments include: (i) introducing a recital containing reasoning for the delayed phase-in of the requirements for equity options; (ii) clarification that EU counterparties wishing to rely on the intragroup exemption may submit their application after the RTS enter into force; (iii) clarification that cash initial margin may be held with equivalent third country institutions (as well as with authorised EU credit institutions); and (iv) clarification that requirements relating to FX contracts should start to apply from the date of application of the relevant Delegated Act under the MiFID II framework, as opposed to the date of entry of this Delegated Regulation.