The FCA has confirmed that from 4 January 2017 it will start accepting applications for intragroup exemptions from the margin requirements for non-cleared derivatives under Article 11 of EMIR. The FCA gives examples of the circumstances in which a firm may be exempt from the obligation to exchange margin when entering into non-centrally cleared OTC derivatives transactions with other group entities, and has published two forms for firms wishing to apply for an exemption: (i) the single pair application form, to be used if the firm requires an exemption with just one other group entity; and (ii) the multiple pairs application form, to be used if a firm requires an exemption with multiple group entities, provided that the details in the section of the form relating to risk management procedures are the same for each group entity. The FCA has three months to assess each application.