The European Commission have now adopted a further set of documents which amend the Regulatory technical Standards (RTS) on the reporting of trades. The amendment RTS can be found here, and the annex with the fields here. This follows a first document adopted a week earlier. The changes in the document are applicable 20 days and 9 months after being published in the European Journal, except for the backloading deadline move which applies as soon as the rule is in the journal. Publication occurs following the “non objection” period of the European Parliament and Council.
The document contains several significant changes including:
- A delay to the final EMIR backloading date of two years to 12th February 2019. This applies to trades that were no longer in effect by the reporting start date of 12th February 2014, but were in force or concluded after 16th August 2012. This requirement, which was less than four months away, is challenging since it required market participants to obtain data from before the reporting start date which may not have been stored.
- Changes to the party responsible for generating the UTI of a trade, which may impact many market participants.
The new reporting formats will be examined in detail as part of the course being run by ETR Advisory and Entrima in Amsterdam on the 29th November (see here). The full list of public courses being run in part or whole by ETR Advisory can be found on their web site here.