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EMIR

This category contains 288 posts

IOSCO document on reporting data elements

IOSCO and the Bank of International Settlements have issued this document entitled “Harmonisation of critical OTC derivatives data elements (other than UTI and UPI)”. It looks at the data elements used to report derivatives under rule sets such as EMIR or the Dodd Frank Act, and proposes a standard format for the data elements typically … Continue reading

Streamlining regulatory reporting – document from Europex

This blog has covered the many streams of regulatory reporting to which market participants have become subject to over the past years. The burden is also high for trading venues, who must meet a thicket of requirements. This response by Europex, to the European Commission as part of the Commissions, “fitness check on supervisory reporting” … Continue reading

Updated EMIR validations – ISINs

ESMA has updated the EMIR validations spreadsheet, which can be found here. The changes can be found on rows 47 and 68 with the first change reflecting the need to report far more trades with ISIN codes since the start of MiFID II. The more widespread use of ISINs has caused difficulties for many in … Continue reading

EMIR news

Earlier this week, ESMA released an updated questions and answers document on EMIR, which can be found here. It contains one new set of answers on page 121 on how scheduled and unscheduled maintenance of TRs should be handled. Last week, the European Parliament issued this report specifying their desired changes to be undertaken as … Continue reading

EMIR Update: TR Fees and EMIR Review legislative proposal

Last week ESMA published this thematic report, which covers fees charged by EMIR Trade Repositories, starting on page 23. The report expresses concerns regarding several aspects of the fees, such as comparability between TRs, and how easy it is to understand the likely fee level given a particular scenario. It also compares volumes between many … Continue reading

2018 begins – what does it have in store?

The 2018 working year starts today for most, which provides a good opportunity to consider the months ahead. Start of year The end of 2017 has unsurprisingly busy, with several pieces of news posted since our “end of year” entry.  In addition to today being the first day on which Swiss “FC-” and “NFC+” entities … Continue reading

The year winds down, sort of

For many this will be the last working day of the year. However, the wind down is not quite as widespread as usual, given the proximity to the MiFID II deadline, less than two weeks away. With several new pieces of information coming out in the last days, both generally (see here) and related to … Continue reading

Updated EMIR Q+A released by ESMA

ESMA has released an updated version of the Questions and Answers document on EMIR, which can be found here. There are several updated answers, including: OTC 18b – p35 – on the handling of omnibus accounts in indirect clearing arrangements in the case of a default. TR 31 – p73 – on the reporting of … Continue reading

European Commission proposes rules simplification

The past years have seen many regulatory initiatives being rolled out globally and in the EU. These include several financial regulatory regimes which have each been implemented within a relatively short space of time. Although each regime has different objectives, there are often overlaps and inconsistencies between them. This applies for example to the data … Continue reading

New EMIR Trade Repository

ESMA has approved NEX Abide Financial’s application to run an EMIR Trade Repository. The notice from ESMA can be found here. This takes the number of approved TRs to 8, and follows the changing of formats introduced on 1st November (see here). Earlier this year the European Commission issued a legislative proposal specifying intended changes … Continue reading