EMIR Trade Reporting
EMIR trade reporting is a vital part of the derivatives market and with regular checks being undertaken by the Central Bank, you need to ensure you are doing it right.
What is EMIR?
EMIR is the European Market Infrastructure Regulation and applies to EU businesses who enter into derivative transactions.
The regulation implements increased transparency in respect of derivatives by imposing requirements concerning:
- reporting of all derivative contracts (including exchange traded derivatives) to Trade Repositories (TRs)
- clearing those OTC derivatives subject to the mandatory clearing obligation
- risk mitigation techniques for non–centrally cleared derivatives, and
- setting out requirements for both Central Counterparties (CCPs) and TRs
Who does EMIR apply to?
EMIR applies not only to Financial Counterparties (FCs) as regulated entities, but it also extends to Non-Financial Counterparties (NFCs).
What is the approach from the regulator?
An EMIR Unit in the Central Bank of Ireland supervises the NFCs which are not subject to other financial regulations.
Supervision of EMIR compliance for existing regulated counterparties are conducted by the sectoral supervisory areas.
How can we help?
- EMIR reporting frameworks
- Third party reviews
- Policies and procedures
- Awareness training
Contact us today for an independent, timely review of your EMIR reporting.
EMIR 101: Solutions to Your Top 5 Reporting Challenges
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