Reconciling under EMIR when trades are reported with the Compression Method
EMIR transaction reporting rules allow reporting entities to delegate their reporting obligations to a third party, however the firm still remains ultimately responsible for ensuring the details of their transactions are reported correctly and accurately under Art 9(1) of EMIR.
EU EMIR Refit – What Reporting Information Do You Need?
With the EU EMIR Refit go-live date set for 29 April 2024, the most common question raised by Reporting Counterparties is – what new information is required in EMIR Refit?
MiFIR Reconciliation
As part of MiFIR/UK MiFIR, Investment Firms should have arrangements in place to regularly reconcile their front office transactions against data samples provided by their National Competent Authority (NCA).
What is EMIR 3? Is it the same as EMIR Refit?
Regulatory reporting is complex and with the numerous EMIR updates released by ESMA over the years, it can get quite confusing. Recently, the European Commission has published a proposal called EMIR 3. This new proposal might sound like a major update, however it is unrelated to the upcoming (April 2024) EMIR refit changes which affect derivatives trade reporting.
ASIC Final Rules for OTC Derivatives Reporting
After two consultation papers over more than two years, ASIC has released their final package of updated Derivatives Transaction Rules. ASIC’s reporting rules are being harmonised to global standards. ASIC has taken industry feedback into consideration and announced there will be a consolidated release to a single update, called the ASIC Derivative Transaction Rules (Reporting) 2024 […]
TRAction’s Easy Guide to LEIs
A Legal Entity Identifier (LEI) is a 20-digit alpha-numeric code based on the standard developed by the International Organization for Standardization (ISO).
Using Reporting Data to Enhance Internal Reconciliation
Often firms view complying with regulation as an obligation to avoid penalties and fines. However, have you considered how compliance can not only improve your business processes but add to your revenue as well?
LEI Requirements
There are certain fields within EMIR, MiFIR and SFTR which require populating with an LEI or specifically ‘ISO 17442 Legal Entity Identifier (LEI) 20 alphanumerical character code’
Recent Regulator Scrutiny on Unpaired EMIR Transactions
We have recently seen regulators making enquiries to investment firms about pairing and matching discrepancies that have been identified in their reporting.
EMIR Data Quality Is Now A Regulator Focus
Since the introduction of transaction reporting, firms have spent significant proportions of their compliance budget on the initial implementation and ongoing technological solutions to ensure transactions are being reported to the regulators correctly and on-time.
