REMIT Trade Reporting User Manual and Consultation
ACER today released a final draft of the REMIT Trade Reporting user Manual (TRUM). This draft covers "standard" trade fields and order information, which is likely to line up with the…
Post on MAD II / MAR
See here for a post on Finextra by Magnus Alquist about how to prepare for MAD II/MAR. (The new version of the Market Abuse Directive)For those in the energy industry,…
CFTC still unable to analyse Dodd Frank Swap data
Scott O Malia, the commissioner of the CFTC recently talked of how they are still unable to process and analyse the data they have received under Dodd Frank trade reporting. A…
A lot is going on the the world of MiFID II/MiFIR
The consultations and drafting of the many technical standards under MiFID is now getting under way and will be in full swing over the summer, as can be seen in…
Nice post on Portfolio Compression
See here for Diana Higgins's post on The OTC Space explaining the benefits of Portfolio Compression. It is the first post in a series that should make for interesting reading.
Response from European Commission to ESMA on EMIR/MiFID inclusion of Physical Forwards and FX Forwards
The European Commission yesterday responded to the letter sent to them by ESMA a few weeks ago, asking for clarification on the definition of a derivative for FX and Physical…
New EMIR Q+A published by ESMA
This morning ESMA published the latest Q+A on EMIR, which can be downloaded here.Items of particular interest:Notional Values - A few modifications here but still no complete clarity on how…
The clock starts to tick towards mandatory clearing
As outlined in a post on The OTC Space here, Yesterday NasdaqOMX announced that they had been approved as a CCP under EMIR, which kicks off the process towards mandatory…
Article on post EMIR issues
See this interesting article on DerivSource on the issues that still remain after GLERT. The article is finance focused but the issues around derivative definition apply equally to physical forwards.
Annual EMIR Portfolio Reconciliation day
EMIR requires that Non Financial Counterparties under the clearing threshold (NFC-) reconcile their portfolios of uncleared OTC trades once a year, for portfolios of 100 trades or less (quarterly otherwise). The…