Need to update Pre-EMIR Refit trades? Time is running out
Under the UK EMIR Refit regulations which commenced on 30 September 2024 in the UK, a 180 day (6 month) transition period was provided to allow for reporting entities to update their non-compliant (i.e. not compliant with EMIR Refit) trades entered into before the Implementation Date. This means the UK EMIR Refit old format (for […]
Interest Rate Derivative Trade Reporting
What is an interest rate derivative (IRD)? An IRD or interest rate swap is a derivative which is a contract between 2 parties that agree to exchange interest payments between each other based on fixed and floating interest rates. IRDs are typically forward contracts where the specific term dates and prices can be customised according […]
Reporting for ICAVs and SICAVs
What is an ICAV and a SICAV? ICAVs ICAV stands for Irish Collective Asset-Management Vehicle. ICAVs are a corporate structure created especially for the Irish funds industry – it may be listed on a stock exchange. It provides managers and promoters with a corporate structure that is designed specifically for investment funds and which is […]
Are products traded with a SI considered OTC?
A Systematic Internaliser (SI) is an investment firm that, when executing client orders over-the-counter (OTC), multilateral trading facility (MTF), or organised trading facility (OTF), deals on its own account in an organised, frequent, systematic and substantial manner without operating a multilateral system (see Article 4(1)(20) of MiFID II). Summary The question of whether an International […]
Need to update Pre-EMIR Refit trades?
Under the Refit regulations which commenced on 29 April 2024 in the EU, a 180 day (6 month) transition period was provided to allow for reporting entities to update their non-compliant trades entered into before the Implementation Date. This means the EMIR Refit old format (for open trades) window closes on 26 October 2024 (for […]
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
UK EMIR – What Additional Reporting Information Do You Need From Me?
UK EMIR Refit go-live date is set for 30 September 2024, prompting the most commonly asked question by Reporting Counterparties using TRAction’s services – what new information is required in UK EMIR Refit? The upcoming changes require firms to adapt to new reporting solutions and processes ahead of the go-live date. By approaching the new […]
Now live – Pairing and matching under EMIR Refit
EMIR Trade Repositories (TRs) have now started giving reporting entities feedback on their pairing and matching status in the form of an end of day report in respect of the new EMIR Refit.TRAction explores the process undertaken by the LSEG Regulatory Reporting TR. What is pairing and matching? Pairing is the process where the TR […]
What ISIN to use when reporting rolling futures CFDs
Background on rolling futures Rolling futures CFD contracts refer to a futures based CFD that doesn’t have an expiry date.This is achieved by the underlying contract pricing moving to the next expiry equivalent contract.For instance, the CFD of BRN.1 (rolling) might start with an underlying price from October and then change in November. Brent Crude […]
9 Common XSD Errors in EMIR Refit
https://youtu.be/VnOa0G4J1Ig EMIR Refit introduced a major structural change with the move from CSV to XML file structure.XML uses an imbedded schema and validation system using XSD files. Essentially, when creating an EMIR Refit XML file, it is checked against a set of formatting and data rules in the XSD file . If your XML file […]
