ASIC
November 26, 2024
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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.
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
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 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).
TRAction reviews ESMA’s latest Q&A and what you need to do to stay up to date
