Meeting regulations & compliance - the growing burden of Trade Reporting

Trade reporting obligations for all derivatives products began six years ago in the US, under Dodd-Frank, and four years ago in the EU, when all entities active in the EU derivatives market, whether using derivatives for trading, hedging or investment purposes, were impacted by EMIR.

First Published: e-Forex Magazine 74 / Special Report / December, 2016

Chris Dingley “If more trading was done on transparent, lit, electronic venues, reporting would become easier.” Trade reporting obligations for all derivatives products began six years ago in the US, under Dodd-Frank, and four years ago in the EU, when all entities active in the EU derivatives market, whether using derivatives for trading, hedging or investment purposes, were impacted by EMIR. Furthermore, under MiFID II, from 3 January 2018, when the European equivalent of the SEF - the Organised Trading Facility (OTF) comes into place, there will be significantly more public pre-trade disclosure and posttrade disclosure with FX trades going over to an OTF. With many players considering becoming systematic internalisers across all of their products, they will be publishing updates, per second, per level, per pair, requiring an even greater data undertaking from firms. Chris Dingley, Head of New Business at Abide Financial, says that FX reporting spans T+1 reporting, with...continued

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