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EMIR

Updated EMIR Q+A – with updated reporting answers

ESMA has today published an updated Questions and Answers document on EMIR, which can be found here. The updated answers include several on the reporting of derivatives trades, which will be of note to those in energy and commodities. These include:

  • TR 12 c (page 82) – On reporting maturity dates that are not working days.
  • TR 17 (page 83) – On reporting at a position level.
  • TR 28 c and d (Page 90) – On how to report underlyings.
  • TR 37 d (page 94) – On access to information on underlying by National Competent Authorities.
  • TR 46 (page 101) –  On the reporting of energy derivatives, with an example.
  • TR 47 (page 103) – On the population of the “deliverable currency” and “delivery currency 2” fields.
  • TR 48 (page 104) – On the use of the “effective date” field.

Many of these answers will require consideration by any firm reporting under EMIR.

The ECON Committee of the European Parliament recently voted on some significant changes to EMIR, that will soon be ratified in a plenary session (see here).

 

 

 

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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