Bonds – When and why are they reportable under MiFIR and EMIR?
Bonds are a common debt instrument traded by financial firms. Are they EMIR reportable as a derivative, or are they traded on a trading venue and MiFIR reportable, or even both? Background Bonds are essentially an IOU and have been around since around 2400 BC in Mesopotamia, originally as grain debt guarantees. Bonds are often […]
Liquidity Provider Agreements and Trade Reporting
Collaboration with your liquidity providers and other counterparties is key to ensuring your regulatory transaction reporting is accurate. The implementation of EU EMIR Refit, UK EMIR Refit and the ASIC and MAS Rewrites means that there are a number of extra items relating to transaction reporting which should now be taken into account when putting […]
What is an execution agent and what scenarios does it cover?
Summary Under UK EMIR reporting, there is a field “execution agent” that is currently optional. After 26 January 2026, this execution agent field will become conditional. This means that if an execution agent is involved in a transaction, the LEI of the execution agent needs to be reported. What is an Execution Agent? “Agent” […]
Do fund managers in the EU have to report for their foreign domiciled funds?
Summary When there is a fund and fund manager involved in derivatives trades, the fund manager is generally responsible for trade reporting for the transactions entered into by the fund. But what happens if one is inside the European Union and the other one outside the EU? For instance, if a fund is registered in […]
Meet the team: Rama Korrapolu
Where did Rama work before joining TRAction? Before joining TRAction, Rama worked at NovaMechanics Ltd as a Junior Full Stack Developer. Rama’s responsibilities in her role… Rama’s role focuses on supporting the daily processing of client trades, ensuring they are captured and reported accurately. She also performs system and data accuracy checks through reconciliations and […]
How TRAction’s Extraction, Enrichment & Logic Ensure Data Lineage
Regulators are now demanding improved data quality. This is the intent of years of regulatory change in the financial markets and trading space. To support these requirements, it is becoming extremely important to have good ‘data lineage’. Data lineage is being able to see data from its origin to its end point. Creating a golden […]
Meet the team: Alamdar Ali
How did Alamdar find himself at TRAction? TRAction is where Alamdar began his career, bringing together his passion for coding and his interest in trade reporting technology. From the outset, he was drawn to the opportunity to work in a technical role that directly supports regulatory compliance and real-world financial operations. Alamdar’s responsibilities in his […]
When do validations kick in for certain EMIR Refit fields?
Reconciliation Phase II (Phase II) is to go live in April 2026 for EU EMIR and September 2026 for UK EMIR. These dates are 2 years after the implementation dates for EMIR Refit for both jurisdictions. Phase II brings with it: 61 brand new fields which are to be added to the scope of both […]
Are Crypto ETNs MiFIR reportable?
The FCA has lifted its ban on crypto Exchange-Traded Notes (ETNs) for professional investors. The relevant regulatory changes took effect on 8 October 2025. The FCA issued a press release that confirms that they will open retail access to crypto ETNs so long as they are “traded on an FCA-approved, UK-based investment exchange”. This means […]
Pairing and matching under EMIR Refit
EMIR Trade Repositories (TRs) have now started giving reporting entities feedback on their pairing and matching status in the form of an end of day report in respect of the new EMIR Refit. TRAction explores the process undertaken by the LSEG Regulatory Reporting TR. What is pairing and matching? Pairing is the process where the […]