The European Securities and Markets Authority (ESMA) is consulting on a new annual reporting framework under EMIR for clearing activities at recognized third-country central counterparties (CCPs). This initiative aims to enhance supervisory visibility into EU firms' exposures to these foreign CCPs. The proposed framework entails Regulatory Technical Standards and Implementing Technical Standards under EMIR. Clearing members and clients utilizing recognized third-country CCPs will be subject to these new reporting obligations. The goal is to provide supervisory authorities with a structured and consistent overview of the scale, characteristics, and risk profile of EU firms' exposures. This is in line with ESMA's commitment to simplification and burden reduction. The proposal prioritizes reusing existing reporting information to minimize new requirements. Upon implementation, this will establish a harmonized reporting approach for clearing activities at recognized third-country CCPs. ESMA is seeking feedback from stakeholders on the reporting framework, templates, and format by October 12, 2026. After reviewing the feedback, ESMA will publish a Final Report.