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EMIR

Updated EMIR Q+A published

ESMA have updated the Questions and Answers document on EMIR reporting, which can be found here. There is one new answer (TR 43 on page 95), in two parts, which relate to the reporting of cleared trades:

  1. The CCP ID field may only contain the ID of an approved CCP and not another clearer.
  2. If a transaction is executed in an anonymised market and cleared, the venue or clearer must reveal the counterparty by the reporting deadline so that both parties to the trade may be reported.

It will be interesting to see how the second answer is implemented.

 

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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