ESMA have issued a discussion paper on SFTR, the Security Financing Transaction Reporting rules. The paper can be found here.

SFTR requires that all securities financing transactions be reported to a Trade Repository. This includes commodities lending and commodities financing. It is likely that commodity and energy market participants will be caught by these rules in some way. The degree of coverage will become clearer as the definitions, especially those in the regulations Article 3(7), 3(8) and 3(9), are firmed up. These are discussed to some degree in the paper on page 51.

The draft rules are scheduled to be sent for approval in January 2017.