See this post on RegTech FS for a summary of a few recent reports on how well trade reporting is going under EMIR and the other regulation that arose from the G20 requirements. Also see the recent FSB report on the topic.

Among the reports, we see the issues that many in the energy and commodities industries have found in terms on understanding what to report.We also see the effects of leaving the planning of trade reporting systems until it is too late resulting in increased overall costs.

The energy and commodities industry has found trade reporting to be particularly difficult under EMIR, firstly because such activity is new for the sector and also because information on how to report trades has been so hard to come by. With REMIT coming next year, this is going to become even harder. However ACER are making great efforts to provide a great deal of guidance as to what to actually report, which may avoid a few of the problems.

However, the overall message is that trade reporting is going to keep us all occupied for many years.