FMLC has published its report on legal uncertainties arising in the context of indirect clearing of exchange traded derivatives under EMIR and MiFIR. FMLC determines that most of the uncertainties which arose from the first draft RTS (see FReD 30 October) are not sufficiently addressed in the second draft RTS. Concerns still exist in relation to leapfrog payments and domestic insolvency laws as well as interpretative difficulties. (Source: FMLC Reports on Uncertainty in Indirect Clearing)