Until 18 June 2021 the clearing obligation in Article 4 does not apply to OTC derivatives objectively measurable as reducing investment risks tied to pension scheme solvency and to compensation entities; contracts entered by pension schemes from 17 August 2018 until 16 June 2019 are exempt from Article 4 and those otherwise subject to clearing during that period are subject to Article 11(2). Exemptions for types of entities/arrangements under Article 2(10)(c) and (d) are granted by the competent authority only after notification to ESMA and EIOPA; ESMA, after consulting EIOPA, issues an opinion within 30 calendar days and the competent authority must decide within ten working days, publishing reasons for any divergence. ESMA publishes an exemptions list and will peer‑review listed entities annually.

Transitional provisions require CCPs and third‑country CCPs authorised or recognised under national law before certain RTS/ITS to apply for authorisation/recognition within six months of entry into force of specified standards. ESMA’s exercise of Article 25 powers, establishment of colleges and review of pre‑2020 recognition decisions follow staged delegated/implementing acts with reviews within 18 months; reclassification to Tier 2 triggers an adaptation period up to 18 months, extendable by six months. National rules remain in force until decisions. Competent authorities must notify ESMA of prior authorisations/recognitions within one month of RTS entry into force. Trade repositories follow analogous registration/recognition timelines and may be used to meet reporting until registration/recognition decisions; limited information sharing with third‑country authorities is permitted until 17 August 2013 where notified to ESMA. Specific transitional dates apply to interoperability and CCP‑to‑CCP membership arrangements (notably 24 December 2024, 25 December 2026, 25 June 2025 and 25 June 2027) and reporting of initial margin by certain CCPs during the Article 497 transitional period.