ESMA has recently authorised a Trade Repository created by Bloomberg which can be used as a data destination under EMIR. The press release from ESMA is here and the one from Bloomberg is here.

EMIR requires that market participants send details of derivatives, whether exchange traded or OTC, to approved TRs, usually within one working day of either execution or other trade life cycle events. Many also must send daily valuation and collateral updates.

The formats to be used for sending data will change from 1st November as per the revised Regulatory Technical Standards (see here). A legislative proposal from the European Commission is likely to change the scope of reporting in the longer term (see here).