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EMIR

Market turmoil and the need for harmonised trade reporting

See here for a timely piece on Bloomberg View, which reminds us that now, with markets in turmoil, would be a good time foe regulators and central banks to use the data collected in repositories worldwide,  in order to become aware of any systemic risks in the derivatives market.

The intent of the various trade reporting regimes which arose out of the 2009 G20 declaration was to ensure transparency, so that systemic risk could be captured and then mitigated. As we have seen, and has been pointed out by various bodies including ISDA and BIS/IOSCO, the lack of harmonisation means that looking for such risks is not easy, given the different standards used, even within the same regime. Hopefully future initiatives will go some way towards addressing this issue, so that the large amount of work carried out will be of benefit.

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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