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ARTICLE · 11 APRIL 2018

Final EU Guidelines For Position Calculation By Trade Repositories

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On March 27, 2018, ESMA published finalized Guidelines on position calculation by trade repositories under the European Market Infrastructure Regulation.

European UnionFinance and Banking
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On March 27, 2018, ESMA published finalized Guidelines on position calculation by trade repositories under the European Market Infrastructure Regulation. ESMA consulted on a draft version of the Guidelines at the end of 2017.

EMIR requires that derivatives contracts are reported to a trade repository by the parties to the contract or by the CCP. Reporting parties do not have to report their trades to the same trade repositories. Instead, trade repositories must take steps to reconcile records among one another. Trade repositories are required to calculate the positions by class of derivatives and the reporting entity, based on the reports received. Trade repositories are also required to publish aggregate positions by class of derivatives.

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