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Trade Reporting: Revised EMIR RTS

22nd June 2016

The start of next year (2017) in particular will see some important changes take place for current 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:

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:

>> More EMIR News & Updates<<

News & ViewsNews & Views

Read our latest articles, news and views affecting compliance and regulation in the UK Financial Services Industry.

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Summary: EMIR Clearing Obligations

The European Market Infrastructure Regulation requires certain classes of OTC derivatives to be cleared through a recognised central counterparty (a CCP).

EMIR imposes requirements on all types and sizes of firms that enter into any form of derivative contract. This includes those not involved in financial services to risk manage and report their derivative positions.

It also applies indirectly to non-EU firms that trade with EU firms. T

In EMIR, all derivatives contracts which are not executed on a regulated market are considered ‘OTC derivatives’.