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November 11, 2013

Weekly Roundup | Post-Trade Processing | 11 November 2013

EMIR: Trade Reporting & Regulatory Announcement Thursday (RAT) Day

Welcome To Reporting Hell…

The European Securities and Markets Authority (ESMA) has approved today the registrations of the first four trade repositories (TRs) under the European Market Infrastructure Regulation (EMIR). The OTC Space: Welcome To Reporting Hell…

EU Executive Rejects Delay in Derivatives Reporting

The European Union's executive body will reject a call from the bloc's securities regulator to delay mandatory recording of derivatives traded on exchanges by a year, a letter said. Reuters: EU Executive Rejects Delay in Derivatives Reporting.

3 Days to Go Until “Energy Trading Regulatory Announcement Thursday” – RAT Day

This Thursday is a big day in Energy Trading Regulation with two big events planned, EMIR TR approval and the REMIT open meeting. Energy Trading Regulation: 3 Days to Go Until “Energy Trading Regulatory Announcement Thursday” – RAT Day.

RAT – Regulatory Announcement Thursday – Is Over

Today saw two big events in Energy Regulation: (a) the announcement of EMIR Trade Repository Approvals, (b) a public meeting at ACER about REMIT. Energy Trading Regulation: RAT – Regulatory Announcement Thursday – Is Over.

Remit Insider Trading Rules Continue to Confuse Energy Traders

Despite coming into force in December 2010, Remit insider trading rules continue to raise questions among energy traders. Risk: Remit Insider Trading Rules Continue to Confuse Energy Traders.

EMIR Trade Reporting: The Race to Comply

The media is awash with speculation on the preparedness (or indeed, lack of preparedness) of buyside firms for European Market Infrastructure Regulation (EMIR). FinExtra: EMIR Trade Reporting: The Race to Comply.

ESMA Publishes the List of Non-EEA CCPs That Applied for Recognition

ESMA has published the list of central counterparties (CCPs) established in non-EEA countries which have applied for recognition under Article 25 of Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, CCPs and trade repositories (TRs) (EMIR). The list (PDF): ESMA Publishes the List of Non-EEA CCPs That Applied for Recognition.

Derivative Dealers Face Race Against Time

Mandatory reporting of exchange-traded derivatives is likely to begin in three months’ time after the European Commission rejected a request from Europe’s main markets regulator for a year’s delay to implementation. FT: Derivative Dealers Face Race Against Time.

Decision Time: No ETD Reporting Delay Means Less Time to Get Ready for MiFID

Though official word is yet to hit the websites, it is becoming increasing obvious from posturing by regulators at industry conferences that the European Commission will reject ESMA’s application for a delay of Exchange Traded Derivatives (ETD) for the scope of EMIR. RegTech FS: Decision Time: No ETD Reporting Delay Means Less Time to Get Ready for MiFID.  

Other Post-Trade Processing News

DTCC Launches Singapore Swaps Repository

The Depository Trust & Clearing Corporation has launched a new global trade repository for reporting over-the-counter derivatives after receiving approval from the Monetary Authority of Singapore late last week.

ISDA Submits Letter on OTC Trade Reporting in Singapore

On 5 November 2013, ISDA issued a press release announcing the submission of a commitment letter, on behalf of 20 key industry participants, to the Monetary Authority of Singapore (MAS). Regulatory Reform blog: ISDA Submits Letter on OTC Trade Reporting in Singapore.


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