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EMIR

6 years of EMIR reporting

It is 6 years today since EMIR reporting started, on the 12th February 2014. The initial post from that day can be found here. Interestingly, for those in the energy industry, the start date also coincided with the eWorld fair.

Since then there have been several changes to the reporting formats, initially through “validation” updates and then via the modified Regulatory technical Standards on reporting (see here). The major  “REFIT” changes were put in place last year, which amongst other things allows Non Financial Counterparties to benefit from an exemption to reporting transactions between internal entities (see here).

The start of EMIR reporting was a milestone in the compliance efforts of those in energy and commodities, being the first major deadline in this group of “financial style” regulation that has affected the industry in Europe. Since then several new rule-sets have also hit the sector. Although the rules have in many cases moved to “business as usual” mode, it is clear that the approach to compliance has evolved and matured at many market participants, both in  technical and organisational  terms. It is likely that this evolution will continue.

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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