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EMIR

The next EMIR reporting deadline approaches

Tomorrow (12th) is the first day on which daily valuation and collateral updates must be sent to Trade Repositories as part of the EMIR trade reporting rules.This requirement does not apply to non financial counterparties that are under the clearing threshold (NFC-).

Many in the energy and commodities markets are NFC-s so we have not seen a huge amount of work to meet this deadline. Never the less, there are some larger participants who are over the threshold(NFC+), and there are also some who have at least one subsidiary that is a “Financial Counterparty” (FC). Anyone in either of these categories will need to do at least some reporting.

There is a useful summary here on Derivsource giving some tips for compliance.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.

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