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EMIR

Bloomberg authorised as EMIR TR

ESMA has recently authorised a Trade Repository created by Bloomberg which can be used as a data destination under EMIR. The press release from ESMA is here and the one from Bloomberg is here.

EMIR requires that market participants send details of derivatives, whether exchange traded or OTC, to approved TRs, usually within one working day of either execution or other trade life cycle events. Many also must send daily valuation and collateral updates.

The formats to be used for sending data will change from 1st November as per the revised Regulatory Technical Standards (see here). A legislative proposal from the European Commission is likely to change the scope of reporting in the longer term (see here).

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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