The revised Regulatory Technical Standards (“RTS”) and Implementing Technical Standards (“ITS”) amending EMIR apply from 1st November 2017. EMIR reports under the revised standards will need to be submitted to trade repositories (“TRs”) earlier than this, just two weeks from now.
Trade Repository RTS Rollout Date
TRs have by now finalised their rollout dates confirming when they will begin accepting live EMIR reports under the revised RTS validation. With the weekend of the 28th/29th October 2017 having been selected in most cases, EMIR reports will need to be submitted in line with the revised RTS from Monday, 30th October 2017.
Testing & Validation
There are still two weeks available to firms to continue their own user acceptance testing in respect of internal reporting systems and to improve them where necessary in response to any validation failures.
View our blog article on the changes being effected through the revised EMIR RTS for more in-depth information on the changes.
If you would like to discuss the above or learn how you can be prepared, get in touch with TRAction Fintech.