EMIR Refit

EU EMIR Refit Starts 29 April 2024 – Top 6 Changes That You Need to Know

As anticipated, the new EU EMIR Refit rules have been passed by the European Parliament and require revised reporting to begin on 29 April 2024.  This revision is meant to align EU EMIR with global standards and improve data quality, as such there have been major changes introduced.

Electricity CFDs

What Are The Reporting Obligations for Electricity Contracts-for-Difference (CFDs)?

Electricity Contracts for Difference (CFD) were introduced in the UK as part of the Electricity Market Reform implemented in the Energy Act 2013.  The aim was to incentivise investment in renewable energy and improve affordability for consumers. Electricity CFDs are concluded between a renewable generator and Low Carbon Contracts Company (LCCC), a government-owned company. These CFD contracts are awarded for a period of 15 years.


The Complexities of ISO 20022 XML for Transaction Reporting

ESMA went live with SFTR in accordance with the ISO 20022 XML methodology in July 2020. This is the first time an EU transaction reporting regulation went live with XML being the only format available for submission. This XML structure was created to provide an industry-wide framework to be used by all financial standards initiatives. Coming into effect in 2023, the European Markets Infrastructure Regulation (EMIR) REFIT will be adding ISO 20022

Trade Reporting

Trade Reporting for Foreign Payment/Money Transfer Providers

Globally there are a host of foreign exchange brokers which allow their customers to move currency to and from different countries and currencies. These companies are subject to different requirements based on the jurisdiction where they are based and the role they play in the market.