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.
- IFR Asia: DTCC Launches Singapore Swaps Repository
- Regulatory Reform blog: DTCC Obtains Approval to Operate Trade Repository in Singapore
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.