Derivative based on crypto-assets – UK EMIR
Can I use overseas MICs instead of an ISIN or UPI for EMIR?
When do I use an overseas MIC instead of an ISIN or UPI under EMIR? Under EMIR regulations (both EU and UK versions), there are very specific validation rules which sometimes require an ISIN, sometimes a UPI and sometimes neither. We have made the flow chart below to help you ascertain which rules will apply […]
TRAction’s Processing and Handback Timeline
How does TRAction simplify your trade reporting? Regulatory trade and transaction reporting can be complex and unwieldy, but that’s why TRAction is here to help! We do all the heavy lifting for you, which allows more capacity for your firm to focus on the delivery of your products and services. Take a look at our […]
EMIR Reporting of the ‘Stock Split’ Corporate Event
What is a Stock Split? Stock splits usually occur when a company’s share price has gone up to an extremely high value, where it may be viewed as being too expensive or unattainable to new investors entering the market. When this occurs, companies may increase the number of outstanding shares by dividing its existing shares […]
European Daylight Saving Time ends in Europe and the UK
Daylight saving time (DST) is coming to an end for most European countries on 31 October 2021. You will need to ensure the time settings in your trade/transaction reporting are correct.
How do I report Novations of OTC derivatives?
What is a Novation? A ‘novation’ is where an existing agreement is replaced with a new agreement to which all contracting parties agree. Generally, novations occur by either: (i) an assignment or transfer of a transaction in which the terms to the original transaction are varied or added, resulting in a new contract and the […]
Need to update Pre-EMIR Refit trades?
Under the Refit regulations which commenced on 29 April 2024 in the EU, a 180 day (6 month) transition period was provided to allow for reporting entities to update their non-compliant trades entered into before the Implementation Date. This means the EMIR Refit old format (for open trades) window closes on 26 October 2024 (for […]
EMIR Required for Cleared Trades, Agency or Give-up models?
Background: Clearing, Prime brokers and bilateral arrangements When financial firms want to trade with each other there are several risks involved, one of which is credit risk. This is the risk where a firm might not be able to ‘pay up’ for losses on a bilateral trade. This risk may be mitigated or resolved by […]
XAU/USD Classed as FX or Commodity for reporting?
How are Gold and other precious metals traded? Precious metals can be traded in 3 main ways: Buying physical gold bars Entering into futures or other derivatives on a commodities exchange Trading interbank derived spot metals as a currency pair (XAU/USD etc.) What is XAU/USD? The ISO 4217 standard designates currency codes such as XAU […]
Unique product identifier (UPI) – UK EMIR
