I think this is a version of the Hellfire Club White Queen. She has the white corsett, panties, garter, hose and hair. The nightgown [or is it a robe?] is probally what's throwin' you off.
I like it. Not exactly sure what I'm looking at - a pic made to look like a painting or a painting made to look more like a photo? If you added/painted the lingerie it looks awesome, only niggle is I don't see anything to distinguish it as Emma Frost.