Of Relevance to:
Firms subject to EMIR
The minimum details to be reported to a Trade Repository currently sit within Regulatory Technical Standards (“RTS”) Delegated Regulation 148/2013, with the format and frequency of trade reports contained in Implementing Technical Standards (“ITS”) Implementing Regulation 1247/2012.
Both the RTS and the ITS have been revised and will apply from 1 November 2017.
Possibly the most notable amendment in RTS 2017/104 is the increase in data fields from the present 85 to in excess of 120 – see both Table 1 (counterparty data) and Table 2 (common data) in the Annex.
Changes arising out of ITS 2017/105 include a greater use of Legal Entity Identifiers (“LEI”) e.g. under the current regime a BIC can be used for the Broker ID and Reporting entity ID whereas, going forward, only a LEI is permitted.
ESMA has updated its Q&As on EMIR – including reporting to Trade Repositories – which can be accessed via the link provided.