The European Securities and Markets Authority (ESMA) has launched two public consultations following the review of the European Market Infrastructure Regulation (EMIR 3). The consultations aim to gather stakeholders' views on the type of information to be disclosed by clearing service providers (CSPs) to their clients regarding costs and fees for clearing services. ESMA is also seeking input on the requirements for central counterparties' (CCPs) margin simulation tool and CSPs' margin simulations, as well as the type of information to be provided by CCPs and CSPs regarding their margin models. EMIR 3 introduces measures to increase transparency and efficiency in EU clearing services and CCPs. The consultations will inform ESMA's development of technical standards to implement EMIR 3. The deadline for responses is September 8, 2025. ESMA will prepare final reports and submit draft technical standards to the European Commission by December 25, 2025. The consultations are part of ESMA's efforts to make EU clearing services and CCPs more competitive and efficient. EMIR 3 aims to increase transparency regarding costs and fees for clearing services and margins called by CCPs and CSPs. The consultations are open to all stakeholders, and ESMA encourages them to share their views on the proposed measures.