ESMA:歐洲證券及市場管理局(ESMA)是歐洲OTC產品相關規則的制定與修改者，是批准OTC產品進行強制性中央結算的唯一權威機構。歐洲市場設施管理條例(EMIR)中對所有在OTC及未受管制市場交易的衍生品合約進行了規定。
歐盟金融監管體系是歐盟在應對金融危機時建立的金融監管框架的體制架構，設立了三個新機構:歐洲銀行管理局系統(EBA)、歐洲保險和職業養老金管理局(EIOPA)和歐洲證券及市場管理局(ESMA)，以取代原有的三個舊機構:歐洲銀行監管委員會(CEBS)、歐洲保險和職業養老金監事委員會(CEIOPS)和歐洲證券監管委員會(CESR)。
2011年1月1日，歐洲證券及市場管理局(European Securities and Markets Authority, ESMA)正式取代歐洲證券監管委員會(CESR)，總部設在巴黎。其使命是建立一套歐盟統一的資本市場監管規則，通過有效的監督和監管為歐盟投資者提供保護，併為金融機構提供公平的競爭環境。
ESMA擁有制定規章的權力，有權登記交易資料。金融機構參與者被要求向交易資料庫進行報告，報告應該包括合同參與方、合同標的型別、到期時間以及名義價值等內容。對於非金融機構參與者來說，則主要針對OTC合約進行相關內容的報告。這類報告必須在執行、修改或者結清的一個工作日內完成。
ESMA is an independent EU Authority that contributes to safeguarding the stability of the European Union’s financial system by ensuring the integrity, transparency, efficiency and orderly functioning of securities markets, as well as enhancing investor protection. In particular, ESMA fosters supervisory convergence both amongst securities regulators, and across financial sectors by working closely with the other European Supervisory Authorities competent in the field of banking (EBA), and insurance and occupational pensions (EIOPA).
ESMA’s work on securities legislation contributes to the development of a single rule book in Europe. This serves two purposes; firstly, it ensures the consistent treatment of investors across the Union, enabling an adequate level of protection of investors through effective regulation and supervision. Secondly, it promotes equal conditions of competition for financial service providers, as well as ensuring the effectiveness and cost efficiency of supervision for supervised companies. As part of its role in standard setting and reducing the scope of regulatory arbitrage, ESMA strengthens international supervisory co-operation. Where requested in European law, ESMA undertakes the supervision of certain entities with pan-European reach.
Finally, ESMA also contributes to the financial stability of the European Union, in the short, medium and long-term, through its contribution to the work of the European Systemic Risk Board, which identifies potential risks to the financial system and provides advice to diminish possible threats to the financial stability of the Union. ESMA is also responsible for coordinating actions of securities supervisors or adopting emergency measures when a crisis situation arises.
Whilst ESMA is independent, there is full accountability towards the European Parliament where it will appear before the relevant Committee known as ECON, at their request for formal hearings. Full accountability towards the Council of the European Union and European Commission also exists. The Authority will therefore report on its activities regularly at meetings but also through an Annual Report.
