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ARTICLE · 04 FEBRUARY 2026

What is an execution agent and what scenarios does it cover?

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The execution agent field is one of the main differences between EU EMIR & UK EMIR.

United KingdomFinance and Banking
Quinn Perrott
Quinn Perrott
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Summary

Under UK EMIR reporting, there is a field "execution agent" that is currently optional. After 26 January 2026, this execution agent field will become conditional. This means that if an execution agent is involved in a transaction, the LEI of the execution agent needs to be reported.

What is an Execution Agent?

"Agent" in general means a third party arranging something on your behalf. For instance, a real-estate agent arranges the purchase or sale of a house, but is neither the seller or the buyer.

In a similar vein, an execution agent, as defined in EMIR, arranges a derivative transaction on another firm's behalf, but is not a counterparty to the transaction. It specifies the entity that executed the transaction on behalf of the counterparty and binds the counterparty to the terms of the transaction, but isn't a broker.

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