EMIR REFIT: 1 month remaining

“Third Country Organized Trading Platform”, this is a key point Knowing whether the trade was made on a “Third Country Organized Trading Platform” is one of the key points of EMIR REFIT reporting, because it has an impact on several fields, starting from field 3, "Entity Responsible for reporting", 2.29 "Confirmed", 2.30 "Cleared obligation", 2.37 "Intragroup", to the most famous one, field 2.8, the UPI ! As of today, there is no clear answer, even from the Trade Repository. The reason is that ESMA provided a mapping file which was not precise enough, as based on the Exchange common name rather than its MIC Code (https://www.esma.europa.eu/sites/default/files/library/equivalent_tc-markets_under_emir.pdf). From our standpoint, the “Third Country Organized Trading Platform” notion is to avoid having to populate these fields and in particular the UPI for non-isinized ETDs (especially on american markets). But we are waiting for confirmation of our interpretation from ESMA. Did you come across the same issue? #EMIRRefit #EMIR #REFIT #TransactionReporting #RegulatoryReporting #RegulatoryCompliance #Regtech #PortfolioCode #UTI #UPI

By | March 28th, 2024|EMIR, Regulatory Reporting|0 Comments

EMIR Refit

D-40! EMIR Refit becomes effective on April 29. Factor:y, FinTeX's regulatory reporting solution is ready, under UAT validation at our clients. The subject of new fields having been widely covered, we are focusing today on data format changes. As you all aware, the format of identifiers is now much more restrictive: pure alphanumeric, without any special characters. You therefore had to deal with managing the history of transactions reported under EMIR. ESMA lets us use special characters to manage already reported UTIs (field 2.1) during the 180 days transition period. However, this is not the case for the Collateral Portfolio Code (field 2.27). If like us, you have special characters in your historical data, it's time to fix them. Tell us your issues in the comments, we will be delighted to share our expertise! #EMIRRefit #EMIR #REFIT #TransactionReporting #RegulatoryReporting #RegulatoryCompliance #Regtech #PortfolioCode #UTI #UPI

By | March 15th, 2024|EMIR, Regulatory Reporting|0 Comments