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EMIR, MAR, Mifid, REMIT, Uncategorized

Streamlining regulatory reporting – document from Europex

This blog has covered the many streams of regulatory reporting to which market participants have become subject to over the past years. The burden is also high for trading venues, who must meet a thicket of requirements. This response by Europex, to the European Commission as part of the Commissions, “fitness check on supervisory reporting” highlights the many overlapping streams of reporting, to different bodies, to which venues are subject. This may well worsen after Brexit.

The report looks at the different reporting streams, and asks for simplification in terms of whom the reports must be sent to, synchronisation of requirements, for example lining up the contents of fields under different regulations which mean the same thing, and also in terms of only one party reporting.  The example is made of when exchanges and CCPs must report the same deals. The suggestion is that this only happen once.

The proposed change to EMIR as part of the “EMIR review” (see here) proposes that exchange traded deals be reported by the CCP rather than the market participant. The hope will no doubt be that any such change incorporates the suggested efficiency.

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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