Last week ESMA sent a letter to the European Commission reiterating their disappointment at the refusal to delay the reporting of Exchange Traded Derivatives under EMIR, and pointing out the difficulties that are now going to arise and confusion that will be caused by the decision. They also have pointed out some other issues inaccuracies in advice in terms of reconciliation between EMIR TRs and MiFID ARMs.

Expect to see more and more discussion on the ETD side of things until matters either become clear, or a delay is announced.