Key Takeaways from ESMA’s 2025 Report on Quality and Use of Data
ESMA has published its 2025 Report on Quality and Use of Data (“Report”), the 6th edition of its annual review across the regulatory reporting regimes within ESMA’s remit. For entities who operate across EMIR, MiFIR and SFTR reporting regimes, the Report contains a number of important findings and signals about: where data quality stands today, […]
The 6 Most Common EMIR Reporting Errors
We’ve identified the 3 most common errors in the data we receive from our clients: NonReportingPartyCountry field populated with invalid country code, UTI reused for a new trade and invalid LEIs used.
TraderEvolution Launches Integration with TRAction’s Trade Reporting Solution
TRAction’s trade reporting solution is now seamlessly integrated with TraderEvolution’s technology, enabling firms to support advanced transaction reporting requirements across Europe and the UK. TRAction’s newly launched integration with TraderEvolution streamlines EMIR and MiFIR transaction reporting, enabling firms to meet regulatory obligations more efficiently through automated and accurate reporting workflows. The integration between TRAction and […]
Centroid Solutions and TRAction partner to streamline regulatory trade reporting
Centroid Solutions has partnered with TRAction to streamline regulatory trade reporting. Centroid Solutions, a global capital markets technology provider, and TRAction, a leading regulatory reporting specialist, have announced a strategic partnership designed to streamline and enhance regulatory reporting processes for mutual clients. Through this partnership, trading data flows seamlessly from Centroid Solutions’ infrastructure directly into […]
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.
Have You Been Conducting Regular Quality Checks of Your Reporting?
Delegating your reporting obligations to a third party does not transfer your regulatory accountability. Across all major regimes, the reporting entity remains ultimately responsible for the accuracy, completeness, and timeliness of submitted data. EMIR, MiFIR, SFTR EMIR, MiFIR and SFTR trade and transaction reporting rules allow reporting entities to delegate their reporting obligations to a […]
Meet the team: Nikolas Papamichael
How did Nikolas find himself at TRAction? Nikolas joined TRAction shortly after completing his university studies in Software Development. As an early career graduate, Nikolas was eager to apply his academic skills in a real-world setting, and TRAction provided the perfect opportunity to do so. Nikolas’ responsibilities in his role… As a Software Developer, Nikolas […]
9 Common XML Errors in EMIR Reporting
EMIR reporting uses an XML file structure, replacing the previous CSV format. XML uses an embedded schema and validation system sourced from XSD schema/files. An XSD schema/file defines the structural and data-type rules that every EMIR XML submission must conform to, specifying which elements are required, their permitted values, correct ordering, and allowed formats. When […]
What is an NFC-?
Entering into derivative transactions, you become a ‘counterparty’.
EMIR introduces two types of counterparties: Financial Counterparties (FC) or Non-Financial Counterparties (NFC).
The Technical ISIN Under UK EMIR
Following a joint consultation by the Financial Conduct Authority and the Bank of England, Q&A 4.14 was finalised and added to the UK EMIR Reporting Q&As. It establishes the circumstances in which the technical ISIN may be used as a placeholder identifier in derivative reports. TRAction looks at: what the technical ISIN is; and when […]