Frances Faulds
Frances Faulds

EMIR Trade Reporting just one step in a long term process

While reporting went live in February it is just one part of an ongoing process. Frances Faulds talks to several industry players about what’s on offer.

First Published: e-Forex Magazine 56 / Market Infrastructure / April, 2014

The European Union regulation on derivatives, central counterparties and trade repositories introduces new requirements to improve transparency and reduce the risks associated with the derivatives market. It also establishes common organisational, conduct of business and prudential standards for CCPs and trade repositories. From 12 February 2014 all counterparties were required to report details of any derivative contract (OTC or exchange traded) they have concluded, or which they have modified or terminated, to a registered, or recognised, trade repository (TR) under the European Markets Infrastructure Regulation (EMIR) reporting requirements. EMIR trade reports may only be submitted to trade repositories which are registered with the European Securities and Markets Authority (ESMA), of which there are currently six.  Mark Husler, CEO of one of the registered trade repositories, UnaVista, and Global Head Product Management at London Stock Exchange Group, believes that one of UnaVista’s key...continued

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