Following the footsteps of other major regulators, the UK, EU and Australia have implemented leverage restrictions on contracts for difference (CFDs) in recent years. In search of alternative solutions, some brokers have found a workaround by moving offshore or setting up branches in jurisdictions with no leverage restrictions.
TRAction is pleased to introduce the updated Ultimate Guide to Transaction Reporting in Europe. The team at TRAction have refreshed our well-known guide for those reporting under EMIR and MiFIR/MiFID II in both the UK and Europe. In our latest version of the guide, we have taken into account recent regulatory changes including where to report your trades post-Brexit.
The Cyprus Securities and Exchange Commission (CySEC) has flagged several incorrect reporting practices of Regulated Entities under EMIR in respect of zero net positions.
Navigating your European reporting obligations can be tricky.
We’ve answered some of our most frequently asked questions below to help you understand your transaction reporting obligations a little better.
Under EMIR, the information stemming from the dual-sided reporting obligation must be reconciled via the pairing and matching of both legs of the derivative trade by trade repositories.
Are you unsure if you have EMIR and/or MiFIR reporting obligations or whether you are reporting completely and correctly?
A recent report published by the ESMA shows more effort is needed to improve trade data quality under EMIR and SFTR.
The United Kingdom has severed ties with the European Union and the post-Brexit trade deal is operating but what does this mean for your trade/transaction reporting?
2020 does not have to be harder than it already is. With all the reading that needs to be done to keep up with Coronavirus, US Presidential Elections and Brexit, dealing with regulatory updates too can feel a little unbearable.