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EMIR

G20 Trade reporting and clearing in Asia Pacific

See here for an interesting article on the Trade News website about the progress and variance of the various implementations of “EMIR like” rules in Asian jurisdictions.

All G20 countries committed to implementing rules to reduce systemic risk in the derivatives market at the Pittsburgh summit in 2009. This commitment resulted in the Dodd Frank rules in the US and EMIR in the EU, amongst others.

The article looks at the implementations in Asia Pacific , in particular in Singapore, Hong Kong, Japan and Australia. The time-frames tend to be a bit later than EMIR, and have also been rolled out in phases, for example for different types of market participants, and for different asset classes, at different times. Clearing is also running to a different schedule.

The article also talks about justification, in particular what happens when a trade is executed in one place but “booked in” another. These types of topic make reporting a complex matter in a global market.

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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