Schedule 2: Transitional amendments Part 1 – Amendments to the Markets in Financial Instruments Regulation Paragraphs 15 and 16: Realigning the scope of the derivatives trading obligation
Paragraphs 15 and 16 of the Schedule alter the scope of the type of counterparties that are subject to the derivatives trading obligation (DTO), set out at Article 28 of MiFIR, in order to align it with the scope of counterparties subject to the Clearing Obligation (CO), which is contained in EMIR.
	Paragraph 15 amends Article 1(3) MiFIR to bring the overall application of the relevant Part of MiFIR, as regards financial counterparties and non-financial counterparties, into line with those expressed to be within scope of the DTO further to the changes made to Article 28 by paragraph 16, as described below.
	Paragraph 16 of the Schedule amends Article 28 MiFIR to specify that the financial and non-financial counterparties in scope of the DTO are those subject to the CO in EMIR.
	To ensure consistency with the CO, paragraph 16 also stipulates that intragroup transactions and transactions that are covered by temporary exemptions from the CO (which apply to transactions that reduce investment risks directly relating to the financial solvency of pension scheme arrangements) are out of scope of the DTO.