ESMA today approved 4 Trade Repositories to receive trades under EMIR. This is for all asset classes and includes exchange traded derivatives. The full announcement can be found here. This means that trade reporting will start on 12 February 2014.

The TRs to be approved are:

• DTCC
• KDPW
• LSE Unavista
• REGIS-TR

Two big names missing from this list are CME and ICE as well as others. The confirmation that Exchange Traded Derivatives will be required from day one will cause some additional work both for the exchanges and for market participants, who had been hoping that the request to delay ETD reporting until 1 Jan 2015 would be accepted.

The countdown has begun…