Compound Growth

© Compound Growth Limited 2012-2017

22nd June 2016

The start of next year (2017) will see some important changes take place for EMIR trade reporting

Revised EMIR RTS

The revised EMIR Regulatory Technical Standards (RTS) for EMIR trade reporting will include ESMA - the European Securities and Markets Authority - introducing:

• changes to position reporting;
• a large addition of new fields, including:
• collateral reporting fields; and
• asset class specific fields

These changes are thought to be much more complex and burdensome for EMIR trade reporting than the previous validation changes from Level 1 and Level 2.

Start Planning for EMIR Trade reporting changes

Now that we are approaching this year’s halfway marker, those affected should start timetabling their plans soon to ensure they are ready in time.

EMIR Updates

To keep up to date with EMIR developments, visit our EMIR News & Updates section which is regularly updated with the latest EMIR news.

So far this month:

• 14/06/2016:   The CME (Chicago Mercantile Exchange Inc) was granted recognition as a third country CCP under EMIR by ESMA
• 10/06/2016:   Delegated Regulation for the Clearing of Interest Rate Derivatives denominated in the non-G4 Currencies was published by the European Union and becomes effective on 1st July 2016.
• 08/06/2016:   The deadline for exposures to qualifying central counterparties has been extended to 15th December 2016 by the European Commission
• 02/06/2016:   A Memorandum of Understanding (MoU) became effective between ESMA and the CFTC in relation to EMIR. This MoU founded the cooperation agreements regarding recognised Central Counterparties (CCPs) that are:

• established in the US;
• authorised or recognised by the CFTC;and
• which have applied for EU recognition under EMIR.

>> More EMIR News & Updates<<

Trade Reporting: Revised EMIR RTS