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EMIR

This category contains 293 posts

EMIR changes agreed and news about penalties

The European Parliament has agreed in a plenary session to the proposed changes  to EMIR as part of the REFIT process, passed by the ECON committee a few weeks ago (see here). The agreed document will be used to represent the stance of the Parliament in the “Trialogue” process in the coming weeks. The press … Continue reading

Possible ACER change in authority, ESMA speech, and a course

The European Council yesterday agreed its position to update and increase the role of the Agency for the Coordination of Energy Regulators (ACER), who are, amongst other things, responsible for many parts of REMIT, including data collection and cross market monitoring, as well as other areas such as network codes. The press release from the … Continue reading

Updated EMIR Q+A – with updated reporting answers

ESMA has today published an updated Questions and Answers document on EMIR, which can be found here. The updated answers include several on the reporting of derivatives trades, which will be of note to those in energy and commodities. These include: TR 12 c (page 82) – On reporting maturity dates that are not working … Continue reading

ECON committee agrees EMIR changes

The European Parliament’s Committee on Economic and Monetary Affairs (ECON) last week voted to agree to the proposed changes to EMIR as part of the REFIT programme (see here). The press release can be found here. The changes agreed include: Transactions between internal entities, where either entity is a Non Financial Counterparty (NFC) are no longer … Continue reading

EMIR Review to be discussed in ECON tomorrow

The ECON committee of the European Parliament meets tomorrow, and will discuss the changes proposed as part of the EMIR review as part of the agenda, which can be found here.  The proposed changes in the EMIR Review include at a high level: Trades between internal counterparties not to be reportable where a non financial … Continue reading

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