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Circular to the financial services industry on Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties (CCP's) and trade

How to fill out reporting obligation under emir

How to fill out reporting obligation under emir

1. To fill out the reporting obligation under EMIR, follow these steps:
2. Gather the necessary trade data: Collect all relevant information related to the trades that fall under the scope of EMIR reporting.
3. Identify the reporting counterparty: Determine whether you are the reporting counterparty or if it is the responsibility of the other party involved in the trade.
4. Choose a Trade Repository (TR): Select an approved TR where you will report your trades. Ensure that the TR you choose is registered with the appropriate regulatory authority.
5. Format the trade data: Prepare the trade data in the required format as specified by the TR. This may involve mapping data fields, ensuring data accuracy, and adherence to data standards.
6. Submit the trade data: Transmit the collected and formatted trade data to the selected TR within the relevant reporting timeline. Ensure compliance with any technical and operational requirements specified by the TR.
7. Validate and reconcile reported data: Verify that the reported data is accurate and complete. Reconcile any discrepancies, if necessary.
8. Retain transaction records: Keep a record of all reported transactions in line with the applicable regulatory retention requirements.
9. Maintain ongoing compliance: Continuously monitor any changes in reporting obligations or requirements under EMIR and adjust your reporting process accordingly.

Who needs reporting obligation under emir?

1. The reporting obligation under EMIR applies to the following entities:
2. - Financial counterparties (FCs): This includes banks, investment firms, insurance companies, pension funds, and other entities that are involved in financial transactions.
3. - Non-financial counterparties above the clearing threshold (NFC+s): Non-financial companies that exceed the specified clearing thresholds for derivative contracts need to comply with the reporting obligation. The thresholds vary depending on the asset class and are determined by the relevant regulatory authority.
4. - Third-country entities: Non-EU counterparties that enter into transactions with EU counterparties may also have reporting obligations under EMIR, subject to the applicable requirements and exemptions.
5. It is important to consult the regulatory guidelines and seek legal advice to determine specific reporting obligations based on your entity type and involvement in derivative transactions.

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What is reporting obligation under emir?

Reporting obligation under EMIR requires certain entities to report details of derivative contracts they have entered into.

Who is required to file reporting obligation under emir?

Entities such as financial counterparties and non-financial counterparties above specified thresholds are required to file reporting obligation under EMIR.

How to fill out reporting obligation under emir?

Reporting obligation under EMIR can be filled out using approved trade repositories or through delegated reporting services provided by third-party entities.

What is the purpose of reporting obligation under emir?

The purpose of reporting obligation under EMIR is to increase transparency in the derivatives market and improve risk management.

What information must be reported on reporting obligation under emir?

Information such as details of the derivative contract, parties involved, and characteristics of the contract must be reported on reporting obligation under EMIR.