Confusion continues to reign over the EMIR trade reporting formats, especially in commodities, where there are many unanswered questions. This article in Banking Technology however, highlights the fact that ESMA feel that the existing guidance should be sufficient for the industry to come up with solutions.

The article also highlights the fact that ESMA, like other regulators in our field, are quite overwhelmed and under resourced. Hopefully therefore industry will come up with some common solutions. The alternative is a very messy stumble towards working compliance.