The Ultimate Guide to Transaction Reporting in Europe

Reporting Guide eBook

Download our free guide to ensure you’re meeting MiFIR/MiFID II and EMIR requirements

Approaching your reporting obligations strategically will not only give you a competitive advantage but ensure you avoid penalties for non-compliance.

To make things easy, we’ve created the Ultimate Guide to Transaction Reporting in Europe to show you how to make the transition from panic to strategy when it comes to European regulation.

EMIR

Europe (EU)

EMIR applies to any entity established in the European Union (EU) that has entered into a derivative contract, and applies indirectly to non-EU counterparties trading with EU parties.

United Kingdom (UK)

EMIR has been onshored into UK legislation as UK EMIR. The UK legislation requires entities entering into derivative contracts to report transactions to an FCA registered trade repository (TR), clear via a central counterparty (CCP) if subject to a mandatory clearing obligation and implement risk mitigation for OTC derivatives that are not cleared by a CCP.

EMIR Refit (EU and UK)

EMIR Refit requires Financial Counterparties will be the responsibility to report on behalf of any Non-Financial Counterparty, not subject to the clearing obligation (NFC-). This means you will need to first identify which of your counterparties you trade with are an NFC- (below the clearing threshold), for those that are below the threshold you will need to request some extra details so that you can fulfil your trade reporting obligations.

MiFID II/MiFIR

EU

Imposes transaction reporting obligations in respect of specified transactions in financial instruments where the underlying instrument is traded on a European Economic Area (EEA) trading venue.

UK

MiFIR/MiFID II reporting obligations in the UK are the same as the EU as they have been adopted locally by the UK parliament. It is important to note that UK entities will now have a dual-reporting obligation if the entity has executed its transactions via an EU branch or vice versa. We’ve developed a summary to ensure you are reporting your trades/transactions to the correct TR or approved reporting mechanism.

Other Regulations

Regulators around the globe have imposed transaction reporting requirements, read more on some of the most common regimes.

At TRAction, we offer delegated reporting services for:

For more information on any of the above reporting regimes, please do not hesitate to contact us.