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EMR, Mifid

Delegated reporting, and EMIR feedback from a regulator

Many market participants use “delegated reporting” to meet their obligations under EMIR and REMIT. This involves another party, such as the counterparty, reporting on their behalf. This blog post by Gordon Allot of Broadpeak Partners gives several reasons why such reporting may not be on offer in future, which will require market participants to change their reporting strategies.

This letter has recently been published by the Central Bank of Ireland, reminding market participants that under EMIR, they are responsible for all reporting, even if delegating it to another party. There is also a reminder that market participants should be checking messages that come back from Trade Repositories.

With changes to EMIR coming next year, many will now need to optimise their reporting arrangements.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on energy and commodity regulation. He has more than 20 years of experience in energy and commodity trading, credit, risk and financial technology. He has delivered a series of trading, credit and risk solutions to a wide variety of oil majors, power and gas companies and investment banks. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy 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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