Updates on the obligations to report to Trade Repositories
and the requirement to clear through CCPs
Question and Answers on the Implementation of EMIR
On the 27th April, 2015 the European Securities and Markets
Authority ('ESMA') issued an updated Q&A on the
implementation of EMIR. This Q&A is the 13th version which ESMA
has published.
This update relates to the second level of the EMIR validation
specifications to be commonly applied by all Trade Repositories
('TRs') to ensure that the Reporting Obligation in terms of
Article 9 is performed according to the EMIR regime.
The validation specifications involve verifying that the values
reported in the fields comply with the format and content rules set
out in the technical standards on reporting1. Users reporting
through TRs are now expected to come across rejection
noti-fications which are triggered when failing to comply with the
requirements listed under the aforementioned technical stand-ards.
This is a key
