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.
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.
TRAction reviews ESMA’s latest Q&A and what you need to do to stay up to date
Are you reporting trades by New York (NY) time or following NY close of business? If so, it is important to check your trades/transactions are still reported at the correct time now that daylight saving time (DST) has started in the US (13 March 2022).
There are certain fields within EMIR, MiFIR and SFTR which require populating with an LEI or specifically ‘ISO 17442 Legal Entity Identifier (LEI) 20 alphanumerical character code’
Public holidays and bank holidays can have a major impact on trade and transaction reporting requirements; especially if you are an entity operating under multiple regimes.
When there is a public holiday where the regulatory body (or regulated entity) is located, it is likely that the timing of report submissions will be extended commensurately.
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
We’ve identified the 2 most common errors in the transaction data we receive from our clients
